The equilibrium price is about
A. $8.50.
B. $9.00.
C. $9.20.
D. $9.60.
C. $9.20.
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If the shoplifter knows that the security guard has a reputation for sleeping on the job, what would his best response be
a. Steal b. Not steal c. Run d. Hide
Of the recessions and expansions from 1950 to 1990, the common events were
a. reactions to war and oil prices b. tax increases and tax cuts c. changes in exports d. Decreases in welfare spending e. Increases and decreases in health care spending
Under rent controls
A. the quantity demanded of rental units is less than it would be under freely competitive markets. B. apartments tend to be nicer than they would be under freely competitive markets. C. the number of rental units available for rent is lower than under freely competitive markets. D. landlord-tenant relationships are more harmonious than under freely competitive markets.
The goal of advertising is to
A) increase the price elasticity of demand for the firm's product. B) reduce the price elasticity of demand for the firm's product. C) increase the standardization of the industry. D) encourage firms to enter into the industry.