Product differentiation
A) is possibly welfare enhancing if new products match consumer preferences better.
B) is welfare reducing even if new products match consumer preferences better.
C) is welfare enhancing even if new products do not match consumer preferences better.
D) is welfare reducing even if new products do not match consumer preferences better.
Question 2
Company towns are often decried as monopsonists. Why was it unlikely that another employer would move into a company town?
A) The marginal workers available in the company town had low marginal revenue product.
B) The existing monopsonist had a first-mover advantage.
C) The marginal workers available in the company town would demand a wage higher than that obtained at the existing monopsonist.
D) Any of the above.
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Letterhead stationery sizes are varied to suit the needs of the sender. Envelopes are sized to match ...
Eggs, milk, and cheese are complete proteins, because they are animal products.
How People Match Their Goals to Their Means
The two phases of glycolysis and the products of glycolysis
Use the product rule to find derivative