Blank DVDs and prerecorded DVDs are substitutes in production. An increase in the price of a blank DVD will lead to
A) an increase in the supply of prerecorded DVDs.
B) a decrease in the supply of prerecorded DVDs.
C) an increase in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs.
D) a decrease in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs.
B
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Suppose Political Party A proposes a tax cut on business income to stimulate the economy. Political Party B opposes the tax cut on business income asserting that it would only help businesses, not the average working man and woman
If you were hired as an economist for Political Party A, explain how the tax cut on business income would help the average working man and woman.
Assume that you own a lake house. Unfortunately your job will require that you spend the summer on the road and you won't be able to enjoy it. You decide that you will rent it out for the summer while you are working
The mortgage payment on the lake house is $1000 per month and the upkeep and maintenance if it is occupied is $200 month but zero if it is not rented. What is the minimum rent that you would be willing to receive and why? What information is irrelevant in your decision? Explain.
How can restricting entry into a union help boost members' wages without the union specifically setting wages?
What will be an ideal response?
An account issued by banks yielding a market rate of interest with a minimum balance requirement and a limit on transactions is a
A. money market deposit account. B. certificate of deposit. C. mutual funds account. D. savings deposit.