Given the budget line in the above figure, which of the following combinations of pizza and milk are affordable?
A) 0 pizzas, 12 gallons of milk
B) 2 pizzas, 2 gallons of milk
C) 4 pizzas, 4 gallons of milk
D) All of the above combinations are affordable.
B
Economics
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An industry whose total output can be increased without a change in long-run per-unit costs is a(n)
A) increasing-cost industry. B) constant-cost industry. C) break-even cost industry. D) decreasing-cost industry.
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The "demonstration effect" created by advertising: a. manipulates consumer needs for trivial products
b. creates urges among consumers to buy products previously unknown to them. c. conveys misleading claims to the consumer. d. none of the above
Economics