Carlos uses a company's blog to announce new merchandise, get feedback from customers, and allow customers to share information about his products. His frequent customers use his his blog on a regular basis to keep up with what is happening with the company's products and to share product preferences. This is called
Answer : social shopping.
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Referring to Figure 19.2, the effect of a decrease in Japanese prices is represented by a movement from point
A) d to a. B) d to c. C) c to d. D) c to b.
In the presence of no externalities
A) social marginal cost exceeds private marginal cost. B) social marginal cost is less than private marginal cost. C) social marginal cost equals private marginal cost. D) social marginal cost and private marginal cost cannot be compared.
A monopolistically competitive firm: a. tries to differentiate its product from the products of competitors
b. faces a perfectly elastic demand curve for its product. c. unlike a perfectly competitive firm, is able to earn positive economic profits in the long run. d. is always a retail establishment.
Which of the following would increase a country's Economic Freedom of the World rating?
A) reliance on central planning rather than open markets B) monetary instability and trade restrictions C) free trade and low taxes D) extensive regulation and restricted entry into markets