Product differentiation
A) is possibly welfare enhancing if new products match consumer preferences better.
B) is welfare reducing even if new products match consumer preferences better.
C) is welfare enhancing even if new products do not match consumer preferences better.
D) is welfare reducing even if new products do not match consumer preferences better.
A
Economics
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What is a normative statement? Give an example
What will be an ideal response?
Economics
The short-run aggregate supply curve can slope upward because
A) prices are fixed in the short run. B) wages adjust immediately to changing economic circumstances. C) producers have misperceptions about the aggregate price level. D) prices adjust instantaneously.
Economics