How would an increase in the price of paper influence the market for college textbooks?
a. The supply of textbooks would increase causing the price of textbooks to fall.
b. The supply of textbooks would increase causing the price of textbooks to rise.
c. The supply of textbooks would decrease causing the price of textbooks to fall.
d. The supply of textbooks would decrease causing the price of textbooks to rise.
D
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When money is used to purchase goods and services, it serves as a:
A. medium of exchange. B. double coincidence of wants. C. store of value. D. unit of account.
The above figure gives your budget line between CDs and magazines. Which combination of CDs and magazines is not affordable?
A) combination a B) combination b C) combination c D) both combinations b and d
In an oligopoly with two firms, one firm's share of the market is 70 percent. The Herfindahl-Hirschman Index is ________
A) 4,900 B) 0.7 C) 5,800 D) 100
Many regulated industries are not pure monopolies
a. True b. False Indicate whether the statement is true or false