If all consumers are uninformed about the quality of a product
A) firms can increase product by selling the same product under a different name at a different price.
B) firms will not be able to price discriminate.
C) firms will price discriminate.
D) firms will increase profits by charging different prices for the same product.
B
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You are just about to finish college and are about to start a high paying job. Because of this new job, what is the most likely outcome in the market for cars?
A) Your demand for cars will increase. B) The market supply of cars will decrease. C) The demand and the supply for cars will decrease. D) Your demand for cars will decrease. E) The market supply of cars will increase.
The difference between consumption and capital goods is that
A) only big corporations can afford capital goods. B) capital goods are used to produce additional goods while consumption goods are not. C) capital goods are provided by the government. D) consumption goods can be enjoyed by many people at the same time. E) it is illegal to export capital goods.