If grocery stores are able to place their own private label "generic" products wherever they wish, why do some managers deliberately put them on shelves that are hard to get to or difficult to notice?
What will be an ideal response?
It may be that people who are only willing to pay for the lower-priced generic are also the same people that are willing to hunt for it in the store. People that are less sensitive to price may simply purchase the higher-priced name brand products that are at eye level and not bother with taking the time to look for the lower-priced and hard-to-find generics.
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Based on the table above, what is the marginal revenue of the tenth unit of output?
A) $190 B) $100 C) $10 D) $9
Which of the following increases the demand for U.S. union labor?
A) an increase in the minimum wage B) an increase in the demand for imported goods C) new laws that ease immigration restrictions D) All of the above cause an increase in the demand for union labor.
How does an increase in government spending affect the aggregate expenditure line?
A) It shifts the aggregate expenditure line upward. B) It increases the slope of the aggregate expenditure line. C) It shifts the aggregate expenditure line downward. D) It decreases the slope of the aggregate expenditure line.
The time that elapses between the implementation of a policy and its intended result is referred to as
A) the action time lag. B) the recognition time lag. C) the effect time lag. D) the data lag.