In what ways can economists help auto manufacturers estimate the marginal rate of substitution between features such as vehicle interior size and acceleration?
A) Examining production cost data
B) Conducting consumer surveys about willingness to pay for auto features
C) Solving the standard consumer model
D) Statistically analyzing historical data on purchases of different types of autos
E) B and D only
E
Economics
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a. True b. False Indicate whether the statement is true or false
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When a tariff is imposed on an imported good, the prices of the similar products produced within the country also increase.
Answer the following statement true (T) or false (F)
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