Noncash gifts:
A. increase the utility of recipients by introducing them to products they have not consumed
before.
B. reduce recipient utility relative to a cash gift because noncash gifts often fail to match
recipient preferences.
C. entail as much utility as do cash gifts.
D. increase the utility of recipients because many people are uncertain of their own
preferences.
Answer: B
Economics
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In the above figure, what will be the output level produced if average cost pricing is used?
A) 1,200 B) 900 C) 700 D) somewhere between 900 and 1,200
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