As demand for wireless earbuds increases, other things being equal, we can expect
A. a decrease in the supply of wireless earbuds.
B. an excess number of wireless earbuds in the market.
C. more wireless earbuds to be produced.
D. a decrease in both the relative price and quantity of wireless earbuds.
Answer: C
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If oil prices decrease,
A) the short-run aggregate supply curve will shift down. B) the long-run aggregate supply curve will shift to the left. C) the short-run aggregate supply curve will shift up. D) the long-run aggregate supply curve will shift to the right.
If a firm doesn't make an economic profit it will shut down
Indicate whether the statement is true or false
A form of implicit collusion in which one firm consistently follows the actions of another firm is:
A) predatory pricing. B) a Webb-Pomerene association. C) parallel conduct. D) only illegal in Europe.
A publisher is deciding whether or not to invest in a new printer. The printer would cost $500, and it would increase cash flows by $600 for the next two years. What is the present value of the cash flows from the investment?
a. $1100 b. $541 c. $600 d. $1041