What happens to labor supply in the pear-picking market when the wage paid to apple pickers increases?
a. The labor supply will stay unchanged until the wages paid to pear pickers change.
b. The labor supply will decrease.
c. The labor supply will increase.
d. The labor supply may fall or rise, depending on the price of pears.
B
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When did the European Union become a common market?
What will be an ideal response?
Which one of the following factors increases the likelihood that a cartel agreement will lead to higher profit for cartel members?
a. free entry into the cartelized market b. a small number of sellers involved in the cartel agreement c. the cartel members produce a differentiated product d. highly unstable demand for the product produced by the cartel
Your opportunity cost of taking this course is the:
A. cost of the activity you would have chosen if you had not taken the course. B. tuition you paid for the course. C. net benefit of taking this course. D. net benefit of the activity you would have chosen if you had not taken the course.
Suppose the quantity of sodas and the quantity of popcorn are on an indifference curve/budget line diagram. An increase in income shifts the budget line ________ and, if popcorn is a normal good, shifts the demand curve for popcorn ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward