If movies on DVD for home rental and movies seen at a theater are substitutes, and the price of movies seen at a theater increases, the demand for movies on DVD will:
A) increase.
B) stay the same.
C) decrease.
D) cannot be determined.
A
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In the final two decades of the twentieth century, average per capita global income
A) decreased by approximately 6 percent. B) increased by approximately 35 percent. C) increased by more than 75 percent. D) remained relatively unchanged.
Recall the four types of goods. Are national defense and basic research the same type of good? Briefly explain
Refer to Table 4.2. A change in the price of calculators caused the change in quantity demanded shown in the table. The price elasticity of demand for calculators (calculated using the initial-value formula) is:
A. 25. B. 1.75. C. 0.75. D. 0.25.
Explain what critics see as the problems with social regulation
What will be an ideal response?