If freezing weather in Florida destroys a large portion of the current orange crop,
A) prices of Florida oranges will rise and quantity demanded will fall.
B) the supply of and the demand for Florida oranges will both fall.
C) the demand for Florida oranges will fall and prices will rise.
D) the supply of Florida oranges will decline but not the quantity demanded.
Ans: A) prices of Florida oranges will rise and quantity demanded will fall.
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An increase in U.S. prices relative to Japanese prices will
A) decrease both U.S. exports and imports. B) increase total planned spending on U.S. goods and services. C) increase U.S. imports and decrease U.S. exports. D) decrease U.S. imports and increase U.S. exports.
The cost borne by an individual user to switch to another network is small if the network which he is using is large
a. True b. False Indicate whether the statement is true or false
Which of the following helps low-income countries grow rapidly relative to high-income countries?
A. Low-income countries are in a better position to save a larger share of their income. B. Low-income countries can employ technologies and practices that have been successful in high-income countries. C. Low-income countries generally have legal systems that protect property rights and enforce contracts in a more evenhanded manner. D. Low-income countries generally have more favorable weather conditions.
The market demand in a Bertrand duopoly is P = 15 ? 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true?
A. P = $10 B. P = $15 C. P = $3 D. None of the answers is correct.