As disposable income grows,
A. both autonomous C and induced C rise.
B. both autonomous C and induced C fall.
C. autonomous C falls and induced C rises.
D. autonomous C stays the same and induced C rises.
D. autonomous C stays the same and induced C rises.
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Refer to the table above. Assuming that the market consists of only these three sellers, what is the market supply when the price is $1?
A) 2 units B) 6 units C) 11 units D) 19 units
In general, one of the results of free trade is that the owners of domestically:
A. scarce factors of production lose due to increased competition. B. abundant factors of production lose from increased demand. C. scarce factors of production win due to increased consumers. D. abundant factors of production win from decreased demand.
Approximately three-fourths of all U.S. firms are
a. corporations. b. proprietorships. c. partnerships. d. consumer cooperatives.
Refer to Scenario 12.2. In this game, there is (are)
A) 4 Nash equilibria. B) 2 Nash equilibria. C) 1 Nash equilibrium. D) zero Nash equilibria.