Daily newspapers have been rising in price in recent years because:
A. wages in the newspaper industry have risen dramatically.
B. the overhead costs have recently been spread over a shrinking number of buyers.
C. capital has replaced virtually all labor used to produce a newspaper.
D. long-standing government subsidies have been removed in most major cities.
Answer: B
You might also like to view...
All else equal, when oil prices decrease, some economical sources of oil tend to become less economical, and this will ________ proven reserves of oil and ________ the number of years it will take to deplete the stock of oil
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
The short-run supply curve of a perfectly competitive firm
A. intersects the minimum point of its short-run average total cost curve but not its short-run average variable cost curve. B. intersects the minimum point of its short-run average variable cost curve but not its short-run average total cost curve. C. intersects the minimum point of both its short-run average variable cost and its short-run average total cost curves. D. intersects the minimum point of its short-run average total cost curve and may or may not intersect the minimum point of its short-run average variable cost curve.
A study of what manufacturers thought their average total cost curves look like revealed that most
a. believe their ATC is downward sloping b. believe their ATC is horizontal c. believe their ATC is upward sloping d. believe their ATC is U-shaped e. do not know what their ATC looks like
Which of the following contribute to productivity growth?
A) investment in plants and equipment B) innovation resulting in new products C) innovation resulting in new processes D) all of the above