The willingness of certain people to use coupons sends a signal to businesses that those people ______.
a. have a steep demand curve
b. are minimally reactive to price changes
c. are willing to pay higher prices
d. have an elastic demand
d. have an elastic demand
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What does unlimited liability mean?
A) The personal assets of the owners cannot be claimed if the business is bankrupt. B) Only employees can have a claim on the assets of the business. C) The owners of the business are personally responsible for paying expenses incurred by the business. D) Anybody with a liability against a firm can claim up to three times their liability.
What is the relationship between individual demand and market demand?
What will be an ideal response?
A monopolist maximizes profits by finding
A) the rate of output where marginal revenue equals marginal cost. B) the rate of output where price equals marginal cost. C) the price where price exceeds marginal revenue by that largest amount. D) the price where average revenue and marginal cost are equal.
If the U.S. national income is ten times the national income of Canada and the MPC in the US is 0.75 while it is 0.90 in Canada, then
a. the MPS is greater in the U.S. but consumption is greater in Canada b. the MPS is greater in the U.S. but saving is greater in Canada c. the MPS is greater in Canada but saving is greater in the U.S. d. both the MPS and saving is greater in Canada e. both the MPS and saving is greater in the U.S.