Asymmetric information is
A) when a market failure occurs.
B) an externality.
C) when the producer has information on the product that the consumer lacks.
D) the regulatory price for a natural monopoly.
C
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The expenditure multiplier measures the change in
A) autonomous spending that results from a change in equilibrium expenditure. B) equilibrium expenditure from a change in induced consumption. C) consumption expenditure for a given change in disposable income. D) equilibrium expenditure that results from a change in autonomous expenditure. E) the price level that results from a change in real GDP.
If a consumer has a choice between only two goods and both of them are perfect complements what would the indifference curve look like and why?
What will be an ideal response?