Given that you observe nothing but the high price of the product, you are more likely to infer that
a. The product is low quality
b. The product is high quality
c. The product is the lowest quality possible
d. The product is defective
b
You might also like to view...
Which of the following is true?
A. Twenty-five percent of Americans were officially unemployed in 1933. B. The United States' economy expanded steadily from 1933 to 1937. C. Once the Great Depression began in 1929, the United States' economy moved steadily downhill until 1933. D. All of the choices are true.
A natural monopoly's average cost curve i. intersects the demand curve while the average cost curve slopes downward
ii. reaches its minimum before it intersects the demand curve. iii. intersects the demand curve below the intersection of the marginal cost curve and the demand curve. A) i only B) ii only C) iii only D) i and iii E) i, ii, and iii
Refer to Scenario 25-2. As a result of Kristy's deposit, Bank A's excess reserves increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
Falling inequality has been a feature of the HPAE due to land reform, free public education, free basic health care, and significant investments in infrastructure for communication, sanitation, and transportation
Indicate whether the statement is true or false