An Example of an Emerging Type of Power Shopping Center

question 50

Multiple Choice

An example of an emerging type of power shopping center might contain

• A)JC Penney's,Sears,some specialty shops,McDonalds,and Dairy Queen.
• B)Michael's,Office Depot,T.J.Maxx,and Circuit City.
• C)Liz Claiborne,Van Heusen,Corning Ware,and Mikasa outlets.
• D)Safeway,CVS,and Subway.
• E)a Supercenter Walmart.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to normal goods.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and economic forces are balanced, leading to no net inclination to change.

Constant-Cost Industry

An industry in which the costs of production (including input prices) remain constant regardless of changes in the industry's output level.

Long-Run Equilibrium

A situation in which, after all adjustments have been made, all firms in a perfectly competitive market earn zero economic profit and no firm has an incentive to change its output.