A problem in identifying poverty is that the concept of what constitutes a basic need is always changing

X-inefficiency refers to the situation in which firms with market power are operating in the upward-sloping segment of their long-run average cost curve

Indicate whether the statement is true or false

Consumers who are loyal to a brand will purchase products under that brand name even if their prices are above other competing brands

a. True b. False Indicate whether the statement is true or false