WeddingChannel

question 85

Multiple Choice

WeddingChannel.com is an Internet company that helps people with the complex task of planning a wedding.Multiple vendors are recommended for things like flowers,caterers,wedding gowns,and more.Through Wedding Channel a couple can establish a website that acts as a registry.Once the couple is married,the website directs them to another site having to do with beginning married life.What type of utility utilities) is this website providing to its users?

• A)Form only
• B)Service only
• C)Service and information
• D)Form and service

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Definitions:

Legal Price

A price set by law or regulation, typically to prevent prices from being too high or too low in a market.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Commodity X

A placeholder name used to denote a specific, but unspecified, item in economic models and discussions.

Demand Equation

A mathematical expression that illustrates the relationship between the quantity demanded of a good and its price, along with other factors influencing demand.