If retailers' marginal cost from providing product-specific services for a new smart television is $50, if retailers offer the product-specific services for the television, the market ________ will ________.
A) supply; shift to the right
B) supply; shift to the left
C) demand; shift to the left
D) supply, not shift
B) supply; shift to the left
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Lack of information to consumers on prices is a problem of
a. government failure b. externalities c. exploitation d. market failure e. none of the above
The debt ceiling places a legal limit on the size of the national debt
a. True b. False Indicate whether the statement is true or false
If a product has an elastic demand, it means that consumers are relatively insensitive to a change in the price of the product
a. True b. False Indicate whether the statement is true or false
All economic transactions involve only buyers and sellers; no third parties are involved.
Answer the following statement true (T) or false (F)