Which of the following will cause the average cost curve of making cigarettes to shift?
A) a $5 million penalty charged to each cigarette maker
B) a $1 per pack tax on cigarettes
C) a $1 an hour wage increase paid to all cigarette production workers
D) All of the above.
D
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Two goods are substitutes if an increase in the price of one good leads to a decrease in demand for the other
Indicate whether the statement is true or false
An equilibrium in the presence of price floors can be restored by increased consumer effort to obtain scarce goods. ?
Answer the following statement true (T) or false (F)
Communication between players prior to the start of a game that does NOT affect the payoffs is called
A) cheap talk. B) ineffective bargaining. C) a binding verbal contract. D) pareto efficient.
Which of the following events, ceteris paribus, would decrease the short-run equilibrium exchange rate for the euro?
a. There is an increase in average U.S. incomes. b. European tariffs decline on imports to Europe from the United States. c. There is an increase in U.S. tastes for European goods. d. U.S. tariffs decline on imports to the United States from Europe.