In the circular flow diagram, households sell _________ to business firms.

a. information
b. products
c. services
d. labor


d. labor

Economics

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Explain the difference between consumption and capital goods

What will be an ideal response?

Economics

Suppose a duopoly had reached the monopoly outcome and then the first firm increased its production. If the second firm next increases its production, the second firm's profit ________ and the first firm's profit ________

A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) increases; does not change

Economics

A change in the price of hamburgers will change the supply of hot dogs

a. True b. False Indicate whether the statement is true or false

Economics

Recall the Application about how cable TV providers respond to the threat of potential competitors to answer the following question(s).Recall the Application. Aside from fending off potential entrants into their markets, cable TV decided to lower their prices because:

A. they wanted to discourage price regulation by the government. B. they wanted more people to enjoy the benefits of cable TV. C. their marginal costs dropped a lot with the arrival of the internet. D. All of these are reasons mentioned in the Application.

Economics