Which of the following examples of advertising is most likely?
a. SyncElectronics Corp. decides to avoid advertising because of its expense.
b. Mulitdome Corp. wants its advertising to decrease the price for its products.
c. TransEnd Corp. hopes its advertising will create a more elastic demand curve for its products.
d. Cesare Corp. uses 15 percent of its budget on advertising.
d. Cesare Corp. uses 15 percent of its budget on advertising.
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At a competitive equilibrium with no externalities, taxes, subsidies, public goods, common resources, or high transactions costs, which of the following occurs?
i. an efficient outcome ii. definitely a fair outcome when judged by the fair-results approach iii. marginal cost equals marginal benefit iv. producer surplus equals consumer surplus A) i and iii B) i, ii and iii C) ii and iii D) i, ii, iii and iv E) only i
At higher interest rates, fewer people or firms will want to borrow. At lower interest rates, fewer people or firms will want to save
a. True b. False Indicate whether the statement is true or false
The average total cost at the profit-maximizing/loss-minimizing amount is a little over
A. $8 per unit.
B. $9 per unit.
C. $10 per unit.
D. $11 per unit.
One In the News article titled "Funeral Giant Moves In on Small Rivals" reports that profit for a Houston-based funeral giant is 31 cents on every dollar versus a profit of 12 cents for the funeral industry in general. Such profits are most likely the result of
A. A downward shift in the production function. B. Economies of scale. C. Higher minimum average costs. D. Constant returns to scale.