Which of the following is an example of price competition?
a. Nike signs LeBron James to a $90 million contract for endorsements.
b. Kellogg's puts the images of Snap, Crackle, and Pop on boxes of Cocoa Krispies, linking the cereal with Rice Krispies.
c. McDonald's introduces new garden McSalads.
d. Tropicana introduces the Blue Raspberry Rush juice.
e. Apple offers a 20% discount on its new range of iPhones.
e
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A government protection for an inventor that provides the inventor with the right to make use of her invention in any way she desires is
A) a trademark. B) an innovation. C) a patent. D) a copyright.
Suppose that opportunity costs in India and Australia are constant. In India, maximum feasible hourly production rates are either 0.3 unit of cloth or 0.2 unit of food
In Australia, maximum feasible hourly production rates are either 0.5 unit of cloth or 0.5 unit of food. It is correct to state that A) India has a comparative advantage in producing cloth. B) India has a comparative advantage in producing both cloth and wheat. C) India has no comparative advantage in producing cloth or wheat. D) Australia has a comparative advantage in producing cloth.
One of the most common uses of GDP is to:
A. track changes in an economy over time. B. see which country has the fairest distribution of wealth. C. evaluate different standards of living across countries. D. measure the amount of money has been made in the economy.
If GDP is $1,000 . consumption is $750, interest payments are $200, rent payments are $400, and profits are $200, what must wages and salaries equal?
a. $800 b. $400 c. $250 d. $0 e. $200