« previous next »

Author Question: If firms differentiate their products in different ways and charge different price because of these ... (Read 79 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?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Natural Products Natural Products
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
GeneChip (Affymetrix, Inc.) after hybridization to p53 PCR products GeneChip (Affymetrix, Inc.) after hybridization to p53 PCR products
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Depolarization of the SA node, Action potentials of the myocardium & ANS effects

For a complete list of videos, visit our video library