(Consider This) According to the piece "Wannamaker's Lament":
A. price tags are inefficient signaling mechanisms.
B. money-back guarantees are costly to firms because they don't increase sales but do
increase costs.
C. most marketing efforts have little impact on sales.
D. only 50 percent of new consumer products fail within the first year.
Answer: C
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In the figure above, with the rent ceiling the quantity of housing supplied is ________ units, the quantity demanded is ________ units, and the quantity rented is ________ units
A) 3,000; 6,000; 3,000 B) 3,000; 6,000; 6,000 C) 3,000; 6,000; 4,000 D) 3,000; 3,000; 3,000 E) 4,000; 4,000; 4,000
A diversified portfolio represents a disadvantage to small investors since it requires large amounts of money to set up.
Answer the following statement true (T) or false (F)
If a firm happened to be the only seller of a particular product, it might behave as a price taker as long as
A) buyers have full information about the firm's price. B) the transaction costs of doing business with this firm are low. C) there are many buyers. D) there is free entry and exit.
Inflation refers to an increase in the
A. price level. B. rate of inflation. C. total income. D. real GDP.