Offering goods that are similar to competitors' products but more attractive in some ways is called:
A. product distinction.
B. price-point pinning.
C. product differentiation.
D. deceptive advertising.
Answer: C
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Refer to the scenario above. What is the present value of the gift voucher for Jim?
A) 12 utils B) 22.5 utils C) 90 utils D) 180 utils
In the table above, which method is NOT technologically efficient?
A) A B) B C) C D) D
In game theory, we usually assume that all players
A) act rationally. B) use the information available to them to decide on a best strategy. C) know about the payoffs of the other players. D) All of the above.
If demand decreases and supply is unchanged, then the equilibrium price ____ and the equilibrium quantity ____. Question 9 options:
A. does not change; does not change B. rises; decreases C. falls; decreases D. falls; increases E. rises; increases