Which of the following is an example of bundling?
A) a pair of pants
B) a pizza and beer lunch combo
C) a bicycle
D) All of the above.
D
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In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product
A) total B) fixed C) variable D) marginal
The principle of diminishing sensitivity holds that:
A. the marginal impact of enlarging a change from the status quo declines with the size of the change. B. the marginal impact of enlarging a change from the status quo increases with the size of the change. C. the total impact of enlarging a change from the status quo declines with the size of the change. D. the total impact of enlarging a change from the status quo increases with the size of the change.