Which of the following describes bundling?
a. Selling multiple products as one product
b. Allowing customers to buy one product if they also buy another
c. Regulating the number of reduced-priced products
d. One firm buying the rights to sell the products of another firm
a. Selling multiple products as one product
Bundling involves selling multiple products as one product.
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Suppose the demand curve for hybrid cars shifts to the right. This will cause a relatively small increase in the price of hybrid cars if
A) both demand and supply are inelastic. B) demand is elastic and supply is inelastic. C) demand is inelastic and supply is elastic. D) both demand and supply are elastic.
A perfectly competitive firm in the short-run can earn:
a. positive economic profits. b. negative economic profits. c. zero economic profits. d. all of these are possible