Informational advertising is the type of advertising that
A. emphasizes the features of a product.
B. is used exclusively on radio.
C. is used exclusively on television.
D. is used to influence a consumer's tastes and preferences.
Answer: A
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Suppose the San Francisco 49ers lower ticket prices by 15 percent and as a result the quantity of tickets demanded increases by 10 percent. This set of results shows that San Francisco 49ers tickets have
A) an inelastic demand. B) an elastic demand. C) a unit elastic demand. D) an inelastic supply. E) an elastic supply.
Consider two individuals: John and Jenna. John has an opportunity cost of time equal to $50 per hour, while Jenna has an opportunity cost of time equal to $25 per hour
Which of the two individuals has a greater incentive to look for work when unemployed?
By definition, a firm is
A) a business organization that makes profits. B) a business organization that utilizes resources to produce goods or services with the goal of making a profit. C) a business organization that consists of more than one person. D) an organization, whether private or public, that may or may not make a profit.
When the wage rate increases: a. all workers wish to work more hours
b. all workers wish to work fewer hours. c. the number of hours laborers wish to work does not change. d. some workers will wish to work more hours, and some will wish to work fewer hours.