If the supply of tennis balls, a complement to tennis racquets, decreases, what will happen to the equilibrium price of tennis balls and to the equilibrium price of tennis racquets?
The equilibrium price of tennis ball will rise. The equilibrium price of tennis racquets will fall.
Economics
You might also like to view...
Given the information in Scenario 14.1, what is the marginal revenue product of labor?
A) 0.5L-1/2 B) 2L-1/2 C) 12L-1/2 D) 24L-1/2
Economics
If saving exceeds investment, then the level of GDP will
a. increase. b. remain constant. c. decrease. d. rise above potential GDP.
Economics
When a firm sells products at lower prices to foreign purchasers, it is known as:
a. international dumping. b. restraint of trade. c. price gouging. d. reciprocal dumping.
Economics
The marginal income tax rate is a person's tax burden as a percentage of total income.
Answer the following statement true (T) or false (F)
Economics