The conditions for unaligned retailer and manufacturer incentives include
a. customers are familiar with the product before they shop for it
b. retailers have no opportunity to educate consumers
c. manufacturers are more efficient at education consumers
d. demand for the product is increased with some consumer education
d
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The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, what is the price of college education?
A) $8,000 per year B) $12,000 per year C) $14,000 per year D) $16,000 per year
If the economy is currently experiencing a high unemployment rate, the greatest cost is
a. extra government spending b. rewarding those who do not work but collect government benefits c. lost output d. the cost of job searching e. the extra cost of funding job fairs
A market where there is only one seller, and buyers have no good alternative, is called
A. a monopoly. B. perfect competition. C. monopolistic competition. D. an oligopoly.
One of the sources of monopoly power for a monopoly may be:
A. diseconomies of scale. B. differentiated products. C. free entry and exit. D. patents.