As the price of a pound of peanuts falls, the
A) demand for peanuts increases.
B) demand for peanuts decreases.
C) quantity of peanuts demanded increases.
D) Both answers A and C are correct.
C
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As a result of advances in technology, cellular telephones have become cheaper to produce. Illustrate the effect of this change on the market for cellular telephones
What will be an ideal response?
Activities that create water pollution are best associated with:
A. inferior goods. B. positive externalities. C. negative externalities. D. normal goods.
In a Betrand price-setting duopoly model, the equilibrium output:
a. will be equal to the monopoly output. b. will be equal to the competitive market output. c. will lie between the monopoly and the competitive market output. d. will be higher than the monopoly output.
Between 1980 and 1990, the national debt
a. decreased from approximately $300 billion to $100 billion b. decreased from approximately $3 trillion to $1 trillion c. as a percent of GDP, decreased d. remained relatively unchanged as a percentage of GDP e. increased from approximately $1 trillion to over $3 trillion