Refer to the Article Summary. Economists refer to an increase in sales due to celebrity endorsements as being the result of
A) social influence. B) the ultimatum game.
C) network externalities. D) the endowment effect.
A
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Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she decides to charge each customer according to his or her willingness to pay. What is the value of consumer surplus by her customers?
A) $39 B) $28 C) $11 D) $0
According to Joseph Schumpeter, many Midwestern railroads:
a. were built too late and thus faced heavy competition from trucks. b. were built ahead of demand. c. were unnecessary because they followed routes already adequately served by other means of transportation. d. would have been built more quickly in the absence of government aid.
The public policies designed to mitigate the effects of monopolies are:
A. highly debated issues. B. well-defined and accepted. C. highly effective. D. proven to increase benefits more than increase costs.
If the rate of job finding rises, the natural rate of unemployment will:
A. remain constant. B. increase. C. decrease. D. rise or decline, depending on the rate of job separation.