N 2010, domino's launched a new advertising campaign admitting that its pizzas had not tasted very good, but claiming that they had developed a new recipe that greatly improved the taste. if domino's succeeded in convincing consumers that its pizza was significantly better than competing pizzas, would its demand curve become flatter or steeper? when a product becomes more differentiated from other products, its demand curve becomes ▼ flatter steeper . this happens because the slope of the demand curve reflects buyer responsiveness to a price change, which is determined in part by the availability of substitutes. thus, when a product becomes more differentiated from other products, buyers perceive it as having ▼ more fewer good substitutes, and this altered perception induces buyers to be ▼ less more responsive to price.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning

Which value describes the desire to be one’s own boss? a. autonomy b. status c. security d. entrepreneurship

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls