Technical and organizational change
A) typically reduces prices by increasing the supply of the product, ceteris paribus.
B) typically reduces prices by decreasing the demand for the product, ceteris paribus.
C) typically increases prices by increasing the demand for the product, ceteris paribus.
D) typically increases prices by decreasing the supply for the product, ceteris paribus.
A
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What will be an ideal response?
Explain why a tax increase on cigarettes in one state might not lead to a substantial price increase for all consumers in that state
What will be an ideal response?
A monopolist's marginal revenue curve is
A) the same as a perfectly competitive firm's marginal revenue curve. B) higher than the monopolist's demand curve. C) below the firm's demand curve. D) a horizontal line at the market price.
Over the past thirty years in the U.S., increases in labor demand have been __________ than increases in labor supply so that wages on average have __________
a. smaller; increased b. larger; increased c. smaller; decreased d. larger; decreased e. larger; stayed constant