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Which of the following statements best describes the idea of a “consumption vocabulary.”
A. People who have a larger vocabulary consume more B. Consumption of a vocabulary falls prey to the same decision principles as consumption in any other domain C. Providing people with names for relevant attributes in a product category allows them to learn and articulate preferences, and to make better choices in the future D. None of the above statements describe the idea of a consumption vocabulary.
Innovation lagged in the centrally planned economies because: there was too much domestic business competition. there was too much competition from foreign firms. A positive statement is one which is:
Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7-Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?
Briefly summarize your views on whether the total expenditures for health care in the United States are too high. Provide your rationale, including the criteria you are using for your assessment.
1. began in France with the development of the steam engine and then spread to the UK and the United States. 2. began in 1550 when the English learned how to use coal to replace wood as a heat source and spread to france and eventually the United S..
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
Both Viacom and Paramount owned a diverse group of entertainment business. QVC was a televised shopping channel. The Paramount board of directors accepted a merger offer from Viacom at a price of $69 per share. QVC and Viacom then entered a biddin..
If the Online Tutoring decides to sell its tutoring services individually, what should it charge for math tutoring? What should it charge for science tutoring?
Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest).
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Suppose that national income is initially at its equilibrium level when desired investment falls.we would except fall in national income,but not by as much as the fall in desired investment
Find out the breakeven output and total sales revenues. Estimate the output that would generate total profit of 60,000 and total sales revenue at that output level.
Suppose you're a city planner working on new industrial park and contemplating the use of industrial ecosystem. Describe the major advantages and disadvantages of industrial ecosystem which you would consider in making your decision.
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