The demand for auto mechanics increased in the summer of 2016, but the starting wages paid to auto mechanics was still the same at the end of 2016. This is an example of a
A. price control.
B. flexible price.
C. highly regulated market.
D. sticky price.
Answer: D
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Refer to the scenario above. A firm producing Good Y will ________
A) earn economic profits if it charges a price of 120 B) incur losses if it charges a price of $200 C) earn zero economic profits if it charges a price of $170 D) shut down production if price falls below $200
Which of the following is NOT a company that collects information on individual borrowers and sells it to savers?
A) Moody's Investor Service B) Value Line C) NASDAQ D) Dun and Bradstreet
The monopoly supply curve is the
A) same as the competitive market supply curve. B) portion of marginal costs curve where marginal costs exceed the minimum value of average variable costs. C) result of market power and production costs. D) none of the above
If the price of cotton used in making blue jeans increases, which of the following will occur?
A) There will be a movement along an unchanged supply curve for jeans. B) The supply curve for jeans will shift rightward. C) The supply curve for jeans will shift leftward. D) There will be a rightward shift in the supply curve for jeans, followed by a movement along the supply curve.