If the price of gasoline increases, what will be the impact in the market for public transportation?
A) The quantity of public transportation demanded decreases.
B) The quantity of public transportation demanded increases.
C) The demand curve for public transportation shifts to the right.
D) The demand curve for public transportation shifts to the left.
C
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Which of the following would be considered to be the most liquid?
A. money market mutual funds B. checkable deposits C. savings deposits D. small time deposits
Ronny's Pizza House is a profit maximizing firm in a perfectly competitive local restaurant market, and their optimal output is 80 pizzas per day. The local government imposes a new tax of $250 per year on all restaurants that operate in the city
How does this affect Ronny's profit maximizing decisions? A) No impact on the restaurant's decisions B) Ronny's will remain in business but will definitely produce less pizza C) Ronny's will definitely shut down D) Ronny's decision depends on the circumstances -- if their profits are larger than $250 per year, then the tax does not impact output; otherwise, Ronny's Pizza House will shut down.
An oligopolist's production decision affects:
A. its profits. B. the profits of other firms in the market. C. the prices charged by each firm. D. All of these statements are true.
Recall the Application about the supply of shipping services to answer the following question(s).Recall the Application. The short-run supply curve for shipping services is:
A. positively sloped. B. negatively sloped. C. perfectly vertical. D. perfectly horizontal.