Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. A bundle of goods that Country B could potentially make would be:
A. (400 iPods, 2,000 tablets).
B. (200 iPods, 1,500 tablets).
C. (300 iPods, 450 tablets).
D. (400 iPods, 1 tablet).
C. (300 iPods, 450 tablets).
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To make rational forecasts, your predictions do not have to be correct all of the time.
Answer the following statement true (T) or false (F)
Which one of these firms would be an oligopolist?
A. Proctor & Gamble B. A family farm C. A McDonald's restaurant in Manhattan D. The only dentist in Hendry County, Florida
Data on DVD sales for three different years can best be compared by using a
a. crystal ball b. bar graph c. psychic d. pie graph
? If the government removes a binding price floor from a market, then the price paid by buyers will
a. increase, and the quantity exchanged will increase.
b. increase, and the quantity exchanged will decrease.
c. decrease, and the quantity exchanged will increase.
d. decrease, and the quantity exchanged will decrease.