Which of the following examples of product differentiation uses service?
a. A sporting goods store offers the “official” hats of major league baseball teams.
b. A import store opens a branch in the suburbs.
c. A website sells “heavenly chocolates.”
d. A website selling T-shirts offers easy and quick exchanges.
d. A website selling T-shirts offers easy and quick exchanges.
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Suppose that one can read a graph that shows information about price and quantity of some product. Relying solely on the graph, is it possible to explain the relationship between the two variables?
What will be an ideal response?
All of the following are exempt from antitrust laws EXCEPT
A) labor unions. B) professional baseball. C) oil companies. D) public utilities.
When quantity supplied equals quantity demanded:
A. equilibrium is reached. B. the market forces push the economy to produce more. C. the market forces push the economy to produce less. D. the market forces cease to function.
Monopolistic competitors in long-run equilibrium will generally find that they are earning economic profits
a. True b. False Indicate whether the statement is true or false