If a technological breakthrough reduces input quantities needed to produce some item,
A. cost of production will be increased.
B. the price of the product will rise.
C. the price of the product will fall.
D. quantity demanded of the product will fall.
Answer: C
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The dividends that stockholders receive are:
A. paid before all other obligations of the company are met. B. distributions from profits. C. always equal to the average amount of interest paid to a bond holder, adjusting for the value of the holdings. D. fixed by contract and paid annually.
Which of the following is consistent with the law of demand?
A. A decrease in the price of tacos causes sellers to want to sell less B. An increase in the people's craving for pizza causes buyers to buy more pizza C. An increase in the price of hamburgers causes buyers to buy fewer hamburgers D. A decrease in the price of egg rolls causes a decrease in the quantity of egg rolls demanded
Which type of price discrimination results in the highest profits for firms?
A. First-degree price discrimination B. Second-degree price discrimination C. Third-degree price discrimination D. Regular price discrimination
If leisure is drawn on the horizontal axis and labor is drawn on the vertical axis, then a person who attaches more importance to leisure than to labor will have indifference curves that:
A. tend to be steeper. B. tend to be flatter. C. will be positively-sloped. D. will be L-shaped.