--%>
Assignment Help - homework help

Positional Goods

Consider things like yachts, tattoos, mansions, Harley-Davidsons or bling. Whenever the satisfaction derived from the good depends just weakly on an intrinsic attributes of the good and much strongly on how the good signals group membership or the status, power or social class of  the consumer, the individual who purchases such a good is purchasing a: (1) Positional good. (2) Veblen good. (3) Snob good. (4) Bandwagon good. (5) Luxury good.

Choose the right answer from the above options.

   Related Questions in Microeconomics

  • Q : Elasticity of demand as price-total

    Increasing the price of a product definitely raises total revenue when the elasticity of demand is as: (w) infinity. (x) unitary. (y) relatively elastic. (z) relatively inelastic.

  • Q : Long-run equilibrium output of

    This monopolistic competitor produces Q0 units and is demonstrated: (w) earning total profit equal to 0PbQ. (x) as a price taker. (y) setting price equal to marginal revenue. (z) in long-run equilibrium.

  • Q : Example of acquisitions of merger The

    The Overpriced Petroleum Extraction Company (or OPEC) has just declared its acquisition of some small firms with facilities which will permit OPEC to process oil via the whole refining procedure, from oil field recovery via transporting and then trading the refined pe

    		•
  • Q : Problem regarding Privatization I have

    I have a problem in economics on Problem regarding Privatization. Please help me in the following question. The procedure of transforming government-run production facilities into ‘for-profit’ businesses is: (i) Privatization. (ii) Cartelization. (iii) Cap

    		•
  • Q : Analytic Time-The Long Run Can someone

    Can someone please help me in finding out the accurate answer from the following question. Alfred Marshall classification of analytical time specified that in long run it is: (i) Not possible to differ technology and at least one resource is fixed and hence at least o

    		•
  • Q : Perfectly Elastic Economic Rent A

    A uniform resource price paid for any resource which has an aggregate supply curve which is less than perfectly elastic generates an: (1) exploitation ratio. (2) investment surcharge. (3) accounting profit. (4) economic rent. (5) acce

    		•
  • Q : Labor Market Equilibrium Can someone

    Can someone help me in finding out the right answer from the given options. The wages tend to rise if labor demand: (i) And supply both reduce. (ii) Reduces and supply rises. (iii) And supply both rise. (iv) Rises and supply reduces.

    		•
  • Q : Determine relatively price elasticity

    A price elasticity of demand of 2.0 implies that at that point, the demand curve is: (w) income elastic. (x) relatively price elastic. (y) relatively price inelastic. (z) unitarily price elastic. I need a good answ

    		•
  • Q : Definition of monopsonist The

    The individual or firm which is the sole buyer of the specific good or resource is a/an: (i) Monopolist. (ii) Oligopolist. (iii) Monopsonist. (iv) Monopolistic competitor. Find out the right answer from the above options.

    		•
  • Q : Proprietorships and

    Can someone please help me in finding out the accurate answer from the following question. The sole proprietorship owned and executed by the lone individual is at a drawback whenever compared to the corporation since it lacks relatively: (i) Flexible legal options reg

    		•