Which of the following is NOT a form of nonprice competition?
a) location
b) physical characteristics
c) advertising
d) discounts
Ans: d) discounts
Economics
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If you have a choice between consuming bundle X or bundle Y, the opportunity cost of consuming bundle X is bundle Y
a. True b. False Indicate whether the statement is true or false
Economics
Which of the following is NOT an assumption of the classical model?
A. Pure competition exists. B. Wages and prices are flexible. C. Inflation will lead to money illusion. D. People are motivated by self-interest.
Economics