Economics - Study Mode
[#686] "Buyers are less price sensitive when they cannot easily compare the quality substitutes". Which of the following factors of price sensitivity is reflected from this statement?
Correct Answer
(A) Substitute - awareness effect
[#687] When the firm has an incentive to exit a competitive, the exit will
Correct Answer
(D) All of the above
[#688] In monopolistic competition of firm remains in equilibrium in the long run
Correct Answer
(B) In the descending segment of the long run average cost curve
[#689] Match the items of List-I with items of List-II and choose the correct answer. List-I List-II a. Income elasticity less than unity 1. Competitive goods b. Cross elasticity less than unity 2. Inferior goods c. Cross elasticity less than zero 3. Superior goods d. Income elasticity less than zero 4. Complementary goods
Correct Answer
(C) a-3, b-1, c-4, d-2
[#690] Price discrimination will not be a good approach for
Correct Answer
(C) FMCG company