What could be a potential explanation for a firm selling virtually identical products under different brands?
A) Consumers are well informed about the quality of the products.
B) Consumers believe that the products' quality is similar and thus firms are able to price discriminate.
C) Consumers always favor private-label brands.
D) Consumers believe that the products' quality differs and thus firms are able to price discriminate.
D
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If there is a shortage of gasoline, then
A) the purchase plans of buyers are not being fully achieved. B) buyers will tend to compete amongst themselves for more gasoline. C) the price of gasoline will tend to rise. D) all the above are true. E) none of the above is true.
One way to deal with the efficiency problem of monopolies is to tax the profits of monopolists.
Answer the following statement true (T) or false (F)
The utility function captures
A) how consumers interact. B) how an individual consumer ranks consumption bundles. C) how output is produced from labor and capital inputs. D) how happy a consumer is about a given consumption bundle.
Managers must monitor knowledge workers closely
Indicate whether the statement is true or false