Consumers perceive several goods to be homogeneous

Assignment Help Business Economics
Reference no: EM13795676

If consumers perceive several goods to be homogeneous, they believe the goods to be,

a. perfect complements

b. perfect substitutes

c. of poor quality

d. inelastic with respect to price

Reference no: EM13795676

Questions Cloud

Retrograde motion of a plane related issues : In general, what are the characteristics of the planets that have been found so far around other stars?
How lighting is used to enhance or detract from production : Describe how lighting is used to enhance or detract from the production. Analyze how the camera's use (camera angles, for instance) affects the overall production.
Investment and government spending exogenous : Consider the following simple model with investment and government spending exogenous:
Significant challenges for health policy : One of the significant challenges for health policy is not necessarily the implementation of programs but the influence of the political climate in regard to both the financial support and control of the programs.
Consumers perceive several goods to be homogeneous : If consumers perceive several goods to be homogeneous, they believe the goods to be,
Discuss the growth strategy : Discuss Jim Poss' fundraising strategies. What other options might be considered for raising the funds SPC needs? Is this a good investment. Discuss the growth strategy. What additional market(s) should Poss pursue
A nash equilibrium : A Nash equilibrium is said to occur when,
Tie the concepts of management : Write and submit a 500 word paper using the most important concepts you have learned in your business program, Tie the concepts of management, accounting, or finance to your chosen career choice. This paper must be submitted in APA format, or MLA for..
What do you notice about the emitted photons : When you change the intensity of the light source to a very low level, what do you notice about the emitted photons? When you change the intensity of the light source to a very high level, what do you notice about the emitted photons

Reviews

Write a Review

Business Economics Questions & Answers

  Average and marginal cost of production at output level

The fixed cost of running a private practice is $36,000 per year. The variable cost of providing consultation services from this private practice increase by $30 per consultation for any level of production up to 3000 units. The average and marginal ..

  Discuss how special interests can succeed in perpetuating

Provide an example to discuss how special interests can succeed in perpetuating policies that are opposed by the majority of voters because the costs of organizing and motivating groups to take political action increase with group's size.

  Elucidate do these data represent aggregate demand

Assume that at price index of 154, the quantity demanded of Real GDP is 9,000 billion worth of goods and services. Elucidate do these data represent aggregate demand or a point on aggregate demand curve.

  Output rate to maximize its profits

If each of the firms sets its own output rate to maximize its profits, assuming that the other firm holds its rate of output constant.

  Utilizing the preceding write equations for total cost

Utilizing the preceding write equations for total cost, average cost, and average variable cost.

  Qsuppose that a person regards ham and cheese as pure

q.suppose that a person regards ham and cheese as pure complements- he or she will always use a slice of ham in

  Q1 use this information to answer the next three questions

q1. use this information to answer the next three questions. sam sells shavers also alvin sells after cut off. imagine

  Assume that in a private closed economy consumption

Assume that in a private closed economy consumption is $240 billion and investment is $50 billion, both at the $280 billion level of domestic output.

  Effect on the marketplace

Illustrate the effect on the marketplace for a hr. of babysitting services 30 yrs into the future when children born today.

  Explain seafood restaurant in a beach resort town

A seafood restaurant in a beach resort town has a fixed (unavoidable) cost of $1,000 per month and variable (avoidable) costs of another $1,000 per month.

  What is the effect on east asia’s willingness to trade

a. What is the effect on East Asia’s willingness to trade? b. Assuming that each region is large enough to influence international prices, how do East Asia’s good-growing seasons in food affect the equilibrium international price ratio?

  Forecast the unemployment rate

The price level in the economy in 2007 and 2008 rose from 100 to 105. In 2008 and 2009, the price level increase from 105 to 110.25. How does the short-run Phillips curve forecast the unemployment rate will change as a result?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd