Many firms use technology to gather information on the preferences of consumers and their responses to changes in prices. This information is then used to adjust prices of the firms' goods and services. This practice is called

Barth Anderson states that the 2008 "downturn in the economy has really brought a lot of people home. They don't say, 'Well, we're going to order a pizza.' They actually cook

" Assuming that restaurant meals and eating at home are substitutes for one another and only consumers' income decreases, what is TRUE? A) Restaurant meals are an inferior good and eating at home is a normal good. B) Restaurant meals are a normal good and eating at home is an inferior good. C) Restaurant meals are an inferior good and eating at home is an inferior good. D) Restaurant meals are a normal good and eating at home is a normal good.

Average costs _______initially due to the presence of fixed costs and then rise due to _________

a. fall; decreasing marginal costs b. fall ; increasing marginal costs c. rise; decreasing fixed costs d. rise; increasing fixed costs