To differentiate its product, a monopolistic competitive firm will engage in all of the following advertising practices EXCEPT
A) direct marketing.
B) mass marketing.
C) interactive marketing.
D) indirect marketing.
Answer: D
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Which of the following is likely to increase measured GDP?
A) Tax rates increase and more people attempt to underreport their income for tax purposes. B) More people decide to do their own lawn maintenance and give up using a professional service. C) Marijuana becomes legal to grow and sell. D) A greater number of women decide to stay at home and provide day care for their children under age 5.
An economy produces outputs X and Y using inputs L and K. Which of the following is NOT required for economic efficiency?
A) MRTSLK = MRSXY for all producers and consumers. B) MRTXY = MRSXY for all producers and consumers. C) MRSXY is equal for all consumers. D) MRTSLK is equal for all producers. E) None of the above. All of these are required for economic efficiency.