Political business cycles are economic fluctuations that occur when discretionary policy is manipulated for public interest
Indicate whether the statement is true or false
false
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How might a problem like the Bird Flu which can make thousands of birds sick and scare consumers about possible problems with eating items like chicken or eggs affect the market for chicken?
A. Price increases and quantity is indeterminate B. Quantity increases and price is indeterminate C. Quantity decreases and price is indeterminate D. Price decreases and quantity is indeterminate
An increase in the price level ________ the aggregate quantity supplied and ________ the aggregate quantity demanded
A) increases; decreases B) does not change; decreases C) decreases; increases D) decreases; decreases E) increases; increases
Refer to the scenario above. Which of the following is true in this case?
A) Firm A's dominant strategy is to choose Strategy X. B) Firm B's dominant strategy is to choose Strategy Y. C) Firm A chooses Strategy X if Firm B chooses Strategy Y. D) Firm A chooses Strategy Y if Firm B chooses Strategy Y.
Explain why a monopolistically competitive firm would not want to reduce its price all the way to its minimum average total cost even though doing so would allow it to increase sales?
What will be an ideal response?