+1-415-670-9189
info@expertsmind.com
Consumers perceive several goods to be homogeneous
Course:- Business Economics
Reference No.:- EM13795665





Assignment Help >> Business Economics

If consumers perceive several goods to be homogeneous, they believe the goods to be,

a perfect complements

b perfect substitutes

c of poor quality

d inelastic with respect to price




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Describe and explain price and output determinations for firms. How does the change from the short run to the long run for a Monopolistic Competitor? What effect does product
Cindy and Dan share a public good G. Cindy’s preferences are Uc = xc + 2G1/2, and she has income mc. Dan has preferences Ud = xd + 8G1/2, and he has income md. Both x and G ha
Which of the following is included in both the U.S. GDP and U.S.? GNP? The primary policy goals of the United States are. Which of the following is a true statement about real
Should we worry or lose sleep over our $16 trillion public debt? If there are legitimate concerns related to our increasing public debt, what are they and why should they be
Two microprocessor manufacturers, one in Japan, one in US selling products to only the US customers. Initially, 1 US dollar equals to 100 Yen (e = 100 Y/$) and the market pric
Suppose Ann’s utility function is defined as: u(c) = ln(c) . For her birthday, Ann’s father offers her the choice of either a lottery ticket that is worth $1 with probability
Consider a health insurance contract offered to a population of risk averse people. People in the population have different risks for illness and this is known to each person
The structuralist believes that the world functions within a system or structure that is tilted in favor of the rich and powerful, and which ultimately determines the winners