27. Brad always buys lose many sales. Nike has effectively A. Increased the inco

Question

27. Brad always buys lose many sales. Nike has effectively A. Increased the income effect for their products and uses Nike brand golf balls. If he finds a Titdelist or Callaway ball in the t away. Brand loyal golfers lke Brad allow Nike to charge a higher price and not B. Increased the cross-shopping elasticity of supply for their product C. Reduced the competitive parity point for their product D. Shifted demand from a monopoly to pure compettion E. Reduced the price elasticity of demand for their product 28. Which of the following is the most logical example of complementary products? A. Hot dogs and hamburgers B. VCRs and DVD players C. Hot dogs and hot dog buns D. Honda cars and Toyota cars E. A brick and mortar university and an online university 29. If the price for a product increases, the demand for a substitute product wil: A. Decrease B. Increase C. Stay the same D. Become more elastic E. Become more inelastic 30. Labor, materials and energy are typically costs. A. Fixed B. Incidental C. Prestige D. Inelastic E. Variable 31. are costs that remain constant as the volume of production increases or decreases. A. Fixed costs B. Variable costs C. Beneficial costs D. Contribution per unit costs E. Break-even point costs 32. At the break-even point A. Costs are zero B. Price is maximized C. Profits are zero D. Fixed costs are reduced to zero E. Contribution per unit is zero shopping 33. The fact that millions of consumers are using online search engines for comparison has: A. Reduced overall demand B. Increased consumers' price sensitivity C. Increased the number of oligopoly markets D. Reduced the contribution per unit cross-pricing elasticity E. Made break-even analysis irrelevant

Explanation / Answer

1) Option E, since increase in price is not reducing the demand.
2) Option C, hot dogs and hot dog buns are complementary goods.
3) Option B, As the substitute product will replace the other product.
4) Option E, they all are variable costs.
5) Option A, fixed costs always remain same.
6) Option C, profits are zero at break even point.
7) Option B, Consumer's price sensitivity has increased.

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