Which of the following causes a decrease in demand for a normal good?
A) increase in price of a substitute
B) increase in price of a complement
C) increase in price
D) increase in income
B
Economics
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A market is allocatively efficient if
A) the sum of the consumer surplus and the producer surplus has been maximized. B) consumer surplus has been maximized. C) producer surplus has been maximized. D) profit has been maximized.
Economics
Limit pricing is a strategy used by a firm to
A) deter entry. B) enhance short run profits. C) raise its prices. D) lower its costs.
Economics