In what ways can economists help auto manufacturers estimate the marginal rate of substitution between features such as vehicle interior size and acceleration?
A) Examining production cost data
B) Conducting consumer surveys about willingness to pay for auto features
C) Solving the standard consumer model
D) Statistically analyzing historical data on purchases of different types of autos
E) B and D only
Question 2
Which of the following markets has the most restrictive geographic boundary?
A) The market for retail gasoline
B) The market for housing
C) The market for gold
D) The market for beef
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