Which would cause an increase in the demand for product A?
a. A decrease in the price of a complementary product B
b. A decrease in the number of suppliers of product B
c. A decrease in the price of product A
d. An increase in the cost of producing product A
a. A decrease in the price of a complementary product B
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The above figure shows the demand and supply curves for high-skilled and low-skilled labor. The wage rate
A) of high-skilled labor is $7.00 and of low-skilled labor is $6.00. B) of high-skilled labor is $9.00 and of low-skilled labor is $7.00. C) of high-skilled labor is $6.00 and of low-skilled labor is $4.00. D) of high-skilled labor is $9.00 and of low-skilled labor is $4.00.
How does the demand curve facing a monopoly firm compare with the demand curve facing a perfectly competitive firm?
What will be an ideal response?
A little more than half of state and local expenditures are applied to ______.
a. defense b. education and healthcare c. police and fire protection d. roads
The demand for an input is:
A. sloping upward. B. derived from input owner's profit-maximizing condition. C. determined by MPL = W. D. the VMP of the input.