All of the following are cited as potential explanations for the decrease in demand for Kleenex-brand facial tissues except:
A) consumers switching to substitute products.
B) market entry by lower-priced private brands.
C) the failure of the producer of Kleenex tissues to develop any new and innovative products.
C
Economics
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Assume that a seller in a perfectly competitive market charges more than the equilibrium price. It is likely that this seller will:
A) increase his sales. B) lose only a few buyers. C) increase his profit. D) lose almost all of his buyers.
Economics
If an event is certain to occur, it has a probability (pr) of
A) 0. B) 0 < pr < 1. C) 1. D) Not enough information to determine.
Economics