Which of the following will not cause the supply curve to shift?
A. A change in the costs of resources needed to produce the good
B. A technological change in the production of the good
C. A change in the price of the good
D. A change in the prices of other goods that producers could be producing
Answer: C
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In economics, what is the difference between the short run and the long run?
What will be an ideal response?
The manner in which one oligopolist reacts to a change in price, output, or quantity on the part of another oligopolist in the industry is known as
A) a positive-sum game. B) the reaction function. C) a noncooperative game. D) a zero-sum game.
Which of the following is not an example of a model?
A. a small plastic airplane tested in a wind tunnel B. a highway map C. a photograph of the inside of a computer D. a poster of the human digestive system
One In the News article titled "Perceptions of Government Failure" indicates that people think that the government is not very trustworthy when it comes to solving domestic issues. If this is true, this is an example of
A. The free-rider dilemma. B. The problem of externalities. C. Market failure. D. Government failure.