The average hourly wage for a manufacturing worker increased nearly how many fold from 1970 to 2014?
a. threefold
b. fourfold
c. fivefold
d. sixfold
d. sixfold
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Marginal utility theory predicts that as the price of coffee rises, the ________ a substitute for coffee ________ and the ________ coffee ________
A) supply of; increases; demand for; decreases B) supply of; decreases; supply of; increases C) demand for; increases; quantity demanded of; decreases D) demand for; decreases; demand for; increases
In Table 1, Tony's income elasticity of demand for steaks is
A) 1.0. B) greater than 1.0. C) less than 1.0. D) zero.
In a sequential game, if Irene decides to enter the market, what would be Mattie's best response?
a. Accommodate b. Fight c. Run away d. Shut down
The government considers a market to be unconcentrated if its HHI number is less than ____, and highly concentrated if that number exceeds ____
a. 1,000 . 1,800 b. 100; 9,000 c. 50; 500 d. 500; 1,300