The more homogeneous are consumers' preferences, the less product variety will be observed.

Answer the following statement true (T) or false (F)


True

Economics

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Annual incomes of James, Jack, and Stanley are $30,000, $50,000, and $80,000 and their tax rates are 10 percent, 20 percent, and 30 percent respectively. Which tax structure is this an example of?

A. Proportional tax B. Progressive tax C. Regressive tax D. Digressive tax

Economics

The satisfaction or happiness one gets from consuming a good or service is called

A. profits. B. utility. C. income. D. price.

Economics

Yesterday, the dollar was trading in the foreign exchange market at 1.10 euros per dollar. Today, the dollar is trading at 1.20 euros per dollar

The dollar has ________ and a possible reason for the change is ________ in the expected future exchange rate. A) appreciated; because there has been no change B) depreciated; a decrease C) appreciated; a decrease D) appreciated; an increase E) depreciated; an increase

Economics

Since World War II the U.S. ________

A) has seen a substantial increase in the inflation rate B) has seen less frequent periods of deflation C) has seen a significant upward trend in real GDP D) all of the above E) none of the above

Economics