In economics, products are considered "differentiated" only if
a. they are physically or chemically different
b. sellers decide that they are different
c. buyers think that they are different
d. the government determines that they are different
e. they are produced by different firms
C
Economics
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Which of the following will lead to an appreciation of the U.S. dollar against the British pound?
A) an increase in British demand for U.S. imports B) an increase in U.S. demand for British imports C) an increase in British interest rates D) a decrease in British demand for U.S. assets
Economics
What is the substitution effect of a wage increase? What is the income effect of a wage increase? Explain under what conditions the labor supply curve will be upward sloping and when it will be downward sloping
What will be an ideal response?
Economics