For consumers, computers are a complement to computer software. Suppose the price of a computer falls. Simultaneously, suppose that the number of companies selling computer software decreases
How do these changes affect the price and quantity of computer software?
The fall in the price of a computer increases the demand for computer software and the demand curve for computer software shifts rightward. A decrease in the number of sellers decreases the supply of computer software and the shifts the supply curve of computer software leftward. The increase in demand and decrease in supply both raise the price, so the price definitely rises. The increase in demand increases the quantity and the decrease in supply decreases the quantity. Hence the net effect on the quantity is ambiguous.
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A) 75 B) 65 C) 25 D) 20
________ is an odorless and colorless gas, a product of the combustion of fossil fuels and burning wood. It is a leading cause of accidental poisoning in the U.S
a. Radon b. Carbon monoxide (CO) c. Nitrogen dioxide d. Sulfur dioxide
The allocations of goods and services from one group in a society to another are called:
a. mutually voluntary exchanges. b. in-kind transfers. c. grants. d. economic rents. e. transfer earnings.
Based on the graphic showing the Lorenz Curve, if income distribution fell on the line of perfect income equality, what percentage of total income would the first 40 percent of households receive?
a. 3.8
b. 9.2
c. 13.0
d. 40.0