When consumers do not view similar products as perfect substitutes, those products are called:
A. homogenous.
B. complements.
C. differentiated.
D. normal.
C. differentiated.
You might also like to view...
Oligopoly describes a market with:
A. many sellers. B. one seller. C. only a few sellers. D. few or many sellers, but only one buyer.
In a market economy, what determines whether an entrepreneur will continue in business or terminate the production of a new product?
What will be an ideal response?
Exhibit 10-6 Aggregate supply curve
In Exhibit 10-6, the economy's employment potential is fully exhausted at:
A. GDP = $1,000 billion. B. GDP = $1,100 billion. C. GDP = $1,200 billion. D. the employment potential is never fully exhausted.
Explain and show graphically how an increase in incomes in the United States will affect equilibrium in the foreign exchange market?
What will be an ideal response?