Advertising is likely to
A. shift the firm's average total cost curve upward and make demand more elastic.
B. shift the firm's average total cost curve downward and make demand more elastic.
C. shift the firm's average total cost curve upward and make demand more inelastic.
D. shift the firm's average total cost curve downward and make demand more inelastic.
C. shift the firm's average total cost curve upward and make demand more inelastic.
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In order to fully realize the gains from entrepreneurial innovation,
a. the government should subsidize potential entrepreneurs. b. it must be relatively easy for people to put their ideas in motion. c. it must be relatively difficult to continue implementing a bad idea. d. both a and b must be true. e. both b and c must be true.
The mechanical reaper was invented by
A. Eli Whitney. B. The Marsh brothers. C. John Deere. D. Cyrus McCormick.