Some firms have an incentive to advertise because they sell a
a. homogeneous product and charge a price equal to marginal cost.
b. homogeneous product and charge a price above marginal cost.
c. differentiated product and charge a price equal to marginal cost.
d. differentiated product and charge a price above marginal cost.
d
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The above figure shows the Lorenz curves for four different countries. Which of the following statements CANNOT be made on the basis of the graph?
A) Incomes are distributed unequally in all four countries. B) Income distribution in country D is the most unequal among the four countries. C) Incomes are higher in country A than in country B. D) Income distribution is more equal in country B than in country D.
Describe the crisis in Russia starting from 1989. Explain why?
What will be an ideal response?
According to the graph shown, producer surplus is:
A. $10.
B. $6.
C. $2.
D. $20.
In response to the Great Recession of 2007–2009, when did the Federal Reserve first cut the federal funds rate to zero?
A. December 2007 B. June 2008 C. December 2008 D. January 2010