Wealth and income are two different terms used to represent the same concept, household well-being and, thus, may be used interchangeably

New classical macroeconomic theory emphasizes the role of "sticky" prices in the economy

Indicate whether the statement is true or false

Product differentiation allows a firm to charge a higher price because the residual demand curve facing the firm

A) is more elastic than the residual demand curve without product differentiation. B) is less elastic than the residual demand curve without product differentiation. C) is horizontal. D) shifts to the left.