The case for product differentiation does not include the fact that
A. products that satisfy a real demand survive.
B. it wastes society's scarce resources.
C. new products satisfy people with different preferences.
D. standards of living rise with product innovation.
Answer: B
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Suppose Mitsubishi Bank (a Japanese bank) expects the exchange rate to be 125 yen per U.S. dollar at the end of the year. If today's exchange rate is 120 yen per U.S. dollar, Mitsubishi bank
A) buys U.S. dollars today because it expects profit from buying U.S. dollars and holding them. B) sells U.S. dollars today because it expects losses from buying U.S. dollars and holding them. C) does not buy or sell any U.S. dollars today because it expects zero profit from buying U.S. dollars and holding them. D) None of the above answers is correct because a foreign commercial bank cannot buy or sell U.S. dollars.
Four years after graduating from college you must decide if you want to go on as an accountant (your college major) or if you want to make a career change and become a singer. The cost of your education will matter for your decision
Indicate whether the statement is true or false
Which of following is a key assumption of a perfectly competitive market?
A) Firms can influence market price. B) Commodities have few sellers. C) It is difficult for new sellers to enter the market. D) Each seller has a very small share of the market. E) none of the above
The theory of labor supply is based on the trade-off between __________
Fill in the blank(s) with correct word