The ____ effect is a ____ network externality where a consumer wants to own a unique good
a. bandwagon; negative
b. bandwagon; positive
c. snob; negative
d. snob; positive.
c
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Why are corporate executives are often guaranteed "golden parachutes" if they should be fired?
a. To give them the incentive to take the higher levels of risk desired by stockholders. b. To ensure that they exercise great caution in spending stockholders' money. c. To encourage the most experienced people to apply for the executive positions. d. To provide a signal to the public that the firm is on solid financial ground.
In the long run, which of the following conditions is true for a monopolistically competitive firm?
A. P > AC and MR = MC. B. P = MC and MR > AC. C. P = AC and MR = MC. D. P > MR and P > AC.
If we observe that when the price of chocolate candy bars increases by 10%, quantity demanded decreases total by 10%, then the demand for chocolate candy bars is unit price elastic
a. True b. False Indicate whether the statement is true or false
Suppose the MPC in an economy is 0.9. The APC is initially 0.95 and disposable income is $4 billion. If disposable income increases to $14 billion, what is the new level of consumption?
A. $12.8 billion. B. $12.6 billion. C. $13.3 billion. D. $9 billion.