Some colleges now offer massive open online courses (MOOCs), where students do not need to be in the same classroom as their instructors
The fixed cost of an online course is relatively ________, but after the courses are placed online, the marginal cost of providing instruction to an additional student is ________.
A) high; low B) high; high C) low; high D) low; low
A
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Unless a good is a Giffen good, the demand curve shifts to the right as income rises.
Answer the following statement true (T) or false (F)
The case against advertising includes the fact that
A. it increases competition by decreasing barriers to entry of new firms into an industry. B. it ensures high quality and efficient production. C. it provides consumers with valuable information about product availability, quality, and price. D. firms spend large sums of money to create artificial differences among products.