Demand for Shell gasoline will increase if the price of:
A. Motor vehicles increases.
B. BP gasoline increases.
C. BP gasoline decreases.
D. Shell gasoline decreases.
B. BP gasoline increases.
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A firm recently doubled in size and experienced a reduction in the average total cost of production, as it was able to spread its fixed costs over a larger quantity of output. Which of the following should be the correct strategy of the firm after expansion? a. The firm should continue to grow slowly to see if sustained growth leads to greater economies of scale. b. The firm should continue to
grow rapidly to see if rapid growth leads to greater economies of scale. c. The firm should continue to grow exponentially to see if exponential growth leads to greater economies of scale. d. The firm should sell off portions of the business to profit from the economies of scale already received.
In an analysis of an excise tax on soda, which of the following is an exogenous variable?
a. The price received by sellers. b. The price paid by buyers. c. The quantity exchanged in the market. d. The tax.
The final settlement of the United States v. Microsoft case, in part:
A. requires that Microsoft provide technical information to competing companies so they can develop software programs that work as well with Windows as Microsoft's own products. B. broke up Microsoft into two competing firms. C. found Microsoft not guilty of violating the Sherman Act. D. forced Microsoft to sell off its major applications programs such as Word and PowerPoint.
A decrease in the personal income tax rate ________ disposable income, which ________ consumption.
A. increases; increases B. increases; decreases C. decreases; decreases D. decreases; increases