Which of the following examples would most likely rely on location to differentiate a product?
a. a woman’s clothing store
b. a producer of pens
c. a construction company
d. a cherry orchard
a. a woman’s clothing store
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Which of the following will increase economic freedom?
a. institutions and policies supportive of voluntary exchange b. high tariff rates c. high taxes d. rapid and unpredictable inflation e. all of the above
Consider voter preferences over a public good y that is being funded by a proportional income tax. a. Illustrate how this might lead to single peaked voter preferences. b. Suppose there exists a privately available good x that is substitute for y. How does this introduce non-single peakedness? c. Now suppose x is relatively complementary to y. What would you expect to happen to voter preferences as this complementarity gets stronger?
What will be an ideal response?