If a firm spends $600 more on advertising, its
A) ATC and MC curves shift upward.
B) MC curve shifts upward and its ATC curve does not shift.
C) ATC curve shifts upward and its MC curve does not shift.
D) ATC curve shifts upward and its MC curve shifts downward.
C
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When you buy at a low price in one market then sell at a higher price in another market you are engaging in
A) arbitrage. B) price discrimination. C) odd pricing. D) an antitrust prohibited practice.
The number of U.S. households with access to the Internet has grown is growing rapidly. Compared to 50 years ago, one would predict that when considering a major purchase, people today will gather:
A. more information because the Internet has increased the cost of gathering information. B. less information because the Internet has increased the benefit of gathering information. C. more information because the Internet has lowered the cost of gathering information. D. less information because the Internet has lowered the cost of gathering information.
When the quantity of money that people want to hold changes as a result of an increase in their income, they want the additional money mainly to serve as a
A. store of value. B. standard of value. C. medium of exchange. D. means of deferred payment.
Which theory says that inflation occurs when the demand for goods exceeds the existing supply?
(A) Quantity theory (B) Demand-pull theory (C) Cost-push theory (D) Supply-and-demand theory