If the demand for swordfish is price elastic and the price of swordfish increases, then
a. the quantity of swordfish demanded will increase
b. the total revenue from swordfish sales will decrease
c. the total revenue from swordfish sales will increase
d. the total revenue from swordfish sales will not change
e. whether total revenue rises or falls depends on how much the price of swordfish increases
B
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The concept of linkages is most important in
a. balanced growth model b. surplus labor model c. Harrod-Domar model d. unbalanced growth model e. linkage is not important in any growth model
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. output, causing it to definitely increase. C. prices, causing them to definitely rise. D. prices, causing them to definitely fall.
Things that cause the demand to shift?
What will be an ideal response?
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
According to the matrix shown, the outcome of the "game" will be:
A. both firms will collude and act like a joint monopolist. B. Firm B will compete and Firm A will collude. C. Firm A will compete and Firm B will collude. D. both firms will compete.