If good J and good Z are complements and the price of good J increases, the demand curve for good Z will
A. shift to the left.
B. become horizontal.
C. not change.
D. shift to the right.
A. shift to the left.
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When transportation costs fall, consumer prices have a tendency to rise
Indicate whether the statement is true or false
If the minimum efficient scale of production is small relative to the size of a market, then
a. the industry will tend to be highly concentrated b. there will be much strategic interdependence among the sellers in the industry c. the industry is unlikely to be an oligopoly d. it is more likely that sellers in the industry will successfully collude e. there will be much merger activity in the industry
Labor productivity times hours of work equals
a. per capita GDP. b. capital stock. c. population. d. GDP.
If the government provides universal health? insurance, what screening process will the government? need?
A. It? won't need a screening test. B. It? won't use screening tests but it will use signals. C. It will only give health insurance to nonminussmokers. D. It? won't use screening tests but it will use statistical discrimination.