A changes in which of the following shifts the demand curve for hamburgers?
A) an increase in the price of the meat used to produce hamburgers
B) an increase in the price of a hamburger
C) a fall in the price of french fries, a complement for hamburgers
D) an increase in the number of hamburger restaurants
C
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There are two equidistant exits in a movie theater. However, one exit is used by a majority of the people after the end of a movie. This is an example of ________
A) herding B) anchoring C) signaling D) sniping
In the above figure, the budget line would rotate in the direction indicated as a result of a
A) rise in the price of a book. B) fall in the price of a book. C) rise in the price of a movie. D) decrease in income.
Technological advancements have led to lower prices and an increase in the sale of digital cameras. How does this affect the digital photo printing paper market?
A) The demand curve for digital photo printing paper shifts to the left. B) The supply curve for digital photo printing paper shifts to the left. C) The supply curve for digital photo printing paper shifts to the right. D) The demand curve for digital photo printing paper shifts to the right.
A unique feature of oligopoly markets is
a. market power b. mutual interdependence c. barriers to entry d. product heterogeneity e. pricing power