The cost of processors and memory has decreased dramatically in the past twenty-five years. As a result, we have seen
a. an increase in demand.
b. an increase in supply.
c. a decrease in demand.
d. a decrease in supply.
b
You might also like to view...
An oligopoly
a. has a concentration ratio of less than 50 percent. b. is a price taker. c. is a type of imperfectly competitive market. d. has many firms rather than just one firm or a few firms.
Which is the most accurate statement?
A. The poverty of older Americans is much greater than the problem of child poverty. B. Public assistance has been considered a great success. C. Medicare and Medicaid date back to the New Deal of the 1930s. D. Less than half of those eligible receive food stamps.
Approaching income redistribution by taking from the rich and giving to the poor is often referred to as the ______.
a. principle of diminishing utility b. Lorenz Curve c. Gini Coefficient d. Robin Hood approach
Relating to the Economics in Practice on page 357: An individual with a parent who has Huntington's disease has a 50 percent chance of also having the disease, and can use this information when deciding on the purchase of health insurance. This is an example of ________ favoring potential insurance buyers.
A. adverse selection B. moral hazard C. asymmetric information D. market signaling