« previous next »

Author Question: If firms differentiate their products in different ways and charge different price because of these ... (Read 59 times)

Themember4

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
If firms differentiate their products in different ways and charge different price because of these differentiation factors, then
 
  A) demand must be perfectly elastic. B) the law of one price is not violated.
  C) transactions costs are being ignored. D) the firm must not be maximizing profit.

Question 2

Refer to Figure 17-1. Suppose the market price of doilies rises to 3. What happens to the curve given in the diagram?
 
  A) There will be a movement along the curve.
  B) Nothing, because labor's productivity has not changed.
  C) The curve shifts to the right.
  D) We cannot answer the question without knowing if Dale would want to hire more workers.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Kaytorgator

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Emerging adults often feel adult in some ways but not others. Emerging adults often feel adult in some ways but not others.
The Railroads: Moving Agricultural Products to Eastern Markets, 1890 The Railroads: Moving Agricultural Products to Eastern Markets, 1890
Nurses should teach lactating women to avoid all drugs, herbal products, or dietary supplements ... Nurses should teach lactating women to avoid all drugs, herbal products, or dietary supplements ...
Sex Hormone Products Sex Hormone Products
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Import of Dietary Glucose from Intestines to Bloodstream

For a complete list of videos, visit our video library