Which of the following elements are commonly emphasized by people who criticize advertisements?
a. increases elasticity; harms competition; manipulates consumer tastes
b. increases elasticity; provides service information; causes demonstration effect
c. provides service information; causes demonstration effect; manipulates consumer tastes
d. harms competition; causes demonstration effect; manipulates consumer tastes
d. harms competition; causes demonstration effect; manipulates consumer tastes
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All these are characteristics of a monopoly except,
a. There is one seller of the product b. Has few substitutes c. Controls a large share of the market d. Controls a small share of the market
Suppose that the only input used in the generation of solar energy is sunlight and has a zero cost. The average total cost of producing electricity is:
A. zero. B. equal to the marginal cost. C. equal to the average fixed cost. D. immeasurably high.