Which business would have the lowest costs per record album sold?
A. An independently operated local music shop
B. A large retailer selling electronics, music, and appliances
C. An online seller of music and books
D. Only the music shop and large retailer
Answer: C
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The transactions demand for money refers to
A) the demand to hold money for use in planned purchases. B) the demand to hold money as a long-term store of value. C) the desire for income. D) the desire for wealth.
A technological improvement lowers the cost of producing coffee. At the same time, consumers' preferences for coffee increase. The equilibrium price of coffee will
A) rise. B) fall. C) remain the same. D) rise, fall, or stay the same, depending on the relative size of the shifts in the demand and supply curves.
The states of Texas and Louisiana relax regulations on where gasoline refineries can operate resulting in more refineries. By dragging the supply curve left or right or selecting the quantity supplied, show the effect that this event will have on the gasoline market. In this scenario, presume the relaxed regulations increases the number of gasoline refineries in operation.
The earnings gap between better- and lesser- educated workers has held steady
Indicate whether the statement is true or false