Which of the following examples of product differentiation uses prestige?
a. A cheese company advertises that it uses only milk from grass-fed cows.
b. An automobile company advertises that it recently won Best Car of the Year.
c. A chain coffee store advertises its many locations.
d. A fast-food restaurant advertises service under five minutes per customer.
b. An automobile company advertises that it recently won Best Car of the Year.
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At the beginning of the twenty-first century,
(a) many people returned to living in the Northeast and Midwest. (b) the majority of U.S. citizens lived in rural areas. (c) the majority of people resided in the South and West. (d) all of the above
Jane wins $100,000 in a lottery and immediately uses her winnings to open up a donuts shop. Her direct cost is $50,000 . and she puts the remaining money in a savings account earning 10 percent annual interest. Alternatively, Jane could have placed all her lottery winnings in the 10 percent savings account. Jane's total cost of opening up a donuts shop is:
a. $60,000. b. $50,000. c. $160,000. d. $45,000. e. $55,000.
General Motors Corporation (a U.S.-based firm) produces a Saab vehicle in Sweden, and sells it in the United States. In which country's GDP is it included?
a. Sweden and the United States b. The United States because it was sold there c. The United States because GM is a U.S. company d. Sweden because it was produced there
Which of the following equations is incorrect?
A) ATC - AFC = AVC B) AVC + AFC = ATC C) AFC = ATC - AVC D) ATC = AVC - AFC