As the percentage of the consumer's income accounted for by a particular good decreases, demand for the good will:
A) tend to become more price elastic.
B) tend to become more price inelastic.
C) tend to become closer to unit elastic.
D) tend toward being perfectly elastic.
B
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Which of the following goods may have demand that is potentially affected by the bandwagon effect?
A) Satellite radio B) Cellular telephones C) High-definition (HD) televisions D) Electronic book readers E) all of the above
The market supply curve for labor curve is upward-sloping because
A. As the wage rises, most workers want to work fewer hours. B. For most workers, as the wage rises, the preference for leisure time increases. C. As the wage rises, most workers are willing to work more hours. D. As the wage falls, most workers want to work more hours.
Refer to the information provided in Figure 13.2 below to answer the question(s) that follow. 
Figure 13.2 Refer to Figure 13.2. The marginal revenue of the sixth pound of cheese is
A. -$4. B. -$1. C. $1. D. $4.
Which of these motivate a firm to use nonmarket transactions to acquire inputs and downstream services?
A. Imposition of low tax rates on a particular production unit B. Zero transaction costs in the spot market C. Steady supply of the key input used in production D. Absence of market power