Professor Cowen suggests that gift-giving can create value for each of the following reasons EXCEPT:
A. gift-giving can lower search costs.
B. some gifts are given for paternalistic reasons.
C. gifts can signal our values or intentions.
D. the cost of the gift for the recipient is zero.
Answer: D. the cost of the gift for the recipient is zero.
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Following the September 11, 2001, terrorist attacks, the managers of many hotels expected a prolonged period of reduced travel and responded by laying off workers and postponing or canceling new construction
Isadore Sharp, the chairman and CEO of Four Seasons Hotels, decided to A) curtail expansion plans, and by significantly cutting back on expansion was able to maintain the company's market share. B) continue expanding and the company ended up losing significant market share. C) curtail expansion plans and the company ended up losing significant market share. D) continue expanding and was able to maintain or enhance the company's market share.
The law of diminishing return holds that as additional increments of resources are:
a. added to a certain purpose, the marginal benefit from those additional increments will remain flat. b. removed to a certain purpose, the marginal benefit from those additional increments will decline. c. added to a certain purpose, the marginal benefit from those additional increments will incline. d. added to a certain purpose, the marginal benefit from those additional increments will decline.
The gains from specialization and trade are based on ______ advantage
Fill in the blank(s) with correct word
When an electronics company advertises on the local newspaper a 10% discount coupon, is this an example of price discrimination? Why or why not?
What will be an ideal response?