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In 1997, McDonald's introduced the "55-cent special." It turned out to be an unsuccessful product. In the marketplace for fast-food products, this lack of success would be an example of: a)normal profit. b)economic costs. c)consumer sovereignty. d)medium of exchange.
Weegy: In 1997, McDonald's introduced the "55-cent special." It turned out to be an unsuccessful product. [ In the marketplace for fast-food products, this lack of success would be an example of: c.Consumer sovereignty ] (More)
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Asked 2/10/2013 10:03:13 AM
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In a capitalistic economy: a)consumers can never be sovereign. b)markets can never be competitive. c)there is a reliance on the market system. d)the government owns the means of production.
Weegy: In a capitalistic economy: c)there is a reliance on the market system. User: The economic function of profits and losses is to: a)bring about a more equal distribution of income. b)signal that resources should be reallocated. c)eliminate small firms and reduce competition. d)tell government which industries need to be subsidized. (More)
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Asked 2/10/2013 9:53:46 AM
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Consider a situation where the U.S. Congress wants to place a special tax on private airplanes to increase tax revenue. This tax would be most effective in raising new tax revenues if the price elasticity of: a)supply is elastic. b)supply is inelastic. c)demand is elastic. d)demand is inelastic.
Weegy: Consider a situation where the U.S. Congress wants to place a special tax on private airplanes to increase tax revenue. [ This tax would be most effective in raising new tax revenues if the price elasticity of: d)demand is inelastic. ] (More)
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Asked 2/17/2013 12:20:53 PM
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If a product has a short-run elasticity of supply equal to zero, then an increase in the demand for the product will: a)have no effect on price or quantity sold. b)increase price and leave quantity sold unchanged. c)increase price and reduce the quantity sold to zero. d)leave the price unchanged and reduce the quantity sold.
Weegy: If a product has a short-run elasticity of supply equal to zero, then an increase in the demand for the product will: b)increase price and leave quantity sold unchanged. (More)
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Asked 2/17/2013 12:25:08 PM
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