The figure above shows the market for candy. People become more concerned that eating candy causes them to gain weight, which they do not like. As a result, the
A) demand curve shifts from D2 to D1 and the supply curve does not shift.
B) demand curve shifts from D1 to D2 and the supply curve shifts from S1 to S2.
C) demand curve shifts from D2 to D1 and the supply curve shifts from S2 to S1.
D) demand curve does not shift, and the supply curve shifts from S1 to S2.
A
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Economists use the term variable costs to refer to
a. prices of inputs that are subject to sudden change, like fuel. b. an increase in the price of any input. c. costs that vary with the type of final product being produced. d. costs that vary with the quantity of output produced.
In the United States in 2014, the percentage of firms that employed more than 200 workers and did not offer health insurance as a fringe benefit to the workers was about
A) 2%. B) 29%. C) 44%. D) 98%.
If other factors remain unchanged, technological progress in producing good X definitely will lead to
A) an increase in the market clearing price of good X and a decrease in the equilibrium quantity of good X. B) an increase in both the market clearing price and the equilibrium quantity of good X. C) a decrease in the market clearing price of good X and an increase in the equilibrium quantity of good X. D) a decrease in both the market clearing price and the equilibrium quantity of good X.
Which is the following is true of games, in interactions between oligopolists? a. All games are cooperative in nature
b. Those in cooperative games are assumed to act independently. c. Communication is an important facet of noncooperative games. d. Most games are noncooperative games.