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
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Tris owns the only auto repair shop on Lonely Island. Tris is a single-price monopoly, so Tris operates on the ________ part of the ________ curve
A) elastic; supply B) inelastic; supply C) inelastic; demand D) elastic; demand
Activists-believe that AD is unstable because
A) business and consumer attitudes and expectations shift. B) monetary policy is variable. C) fiscal policy effects are unpredictable. D) Both B and C are correct.