If consumers find that there are substantial transaction costs to purchasing a product, then
A. equilibrium price and quantity both fall.
B. overall consumer demand is the same at each price.
C. overall consumer demand is greater at each price.
D. overall consumer demand is less at each price.
Answer: D
Economics
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Product development is efficient if the
A) new product actually brings great benefits to the consumer. B) producer's marginal cost of product development equals the consumer's marginal benefit. C) producer surplus from selling the product equals the consumer surplus. D) average cost of the product development equals the average revenue generated.
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A Balanced Budget Amendment would be
A. homocyclical. B. procyclical. C. countercyclical. D. heterocyclical.
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