The type of advertising used for an experience good is
A) informational advertising.
B) persuasive advertising.
C) search advertising.
D) experience advertising.
B) persuasive advertising.
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Scientists have said for years cod was so seriously overfished in European Union waters that there was a risk of extinction due to stock collapse. Why would overfishing occur in this common market?
A) Fishing occurs until marginal cost per boat equals marginal social benefit which is inefficient. B) Fishing occurs until marginal social cost per boat equals marginal social benefit which is inefficient. C) Fishing occurs until marginal cost per boat equals marginal benefit which is inefficient. D) Fishing occurs until marginal social cost per boat equals marginal cost which is inefficient.
Answer the following statements true (T) or false (F)
1. Concern with the level of employment in the economy is a macroeconomic issue. 2. Microeconomics is a study of aggregates in the economy. 3. An economy’s wealth consists of a multitude of consumer and capital goods. 4. Economic services lack the characteristic of transferability found in economic goods.
A consumer values a car at $30,000 and a producer values the same car at $20,000 . What amount of tax will result in unconsummated transaction?
a. $4,000 b. $9,000 c. $15,000 d. $2,000
Government attempts to offset market failures can prevent the market from dealing with a problem more effectively.
Answer the following statement true (T) or false (F)