When textbooks are produced, the idea for a new book typically comes from
A. the publisher.
B. department chairs.
C. faculty thinking they have a better idea.
D. faculty needing a book for their class.
Answer: C
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Is this game a prisoner's dilemma?
A. Yes, because if both firms played their dominant strategy, they each would earn a higher payoff than when they both play their dominated strategy. B. No, because cheating yields the highest payoff for both firms. C. Yes, because if both firms played their dominated strategy, they each would earn a higher payoff than when they both play their dominant strategy. D. No, because neither firm has a dominant strategy.
The above table gives the demand and supply schedules for Blu-ray discs. Suppose that the price of a Blu-ray disc player increases, resulting in the demand for Blu-ray discs decreasing by 8,000 units at all prices
What are the new equilibrium quantity and equilibrium price of Blu-ray discs? A) 8,000 and $8 B) 16,000 and $16 C) 20,000 and $20 D) 28,000 and $28
An increase in the supply of a good will cause
a. a decrease in equilibrium price and an increase in equilibrium quantity. b. an increase in equilibrium price and quantity. c. an increase in equilibrium price and a decrease in equilibrium quantity. d. a decrease in equilibrium price and quantity.
If there are 10 million people employed, 1 million unemployed, 500,000 discouraged workers, and 400,000 collecting unemployment insurance, there are _____ people in the labor force.
Fill in the blank(s) with the appropriate word(s).