In an open economy, the quantity supplied of bikes in the domestic market is ________. 
A. 80,000 thousand
B. 50,000 thousand
C. 20,000 thousand
D. 100,000 thousand
Answer: A
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The effect of diminishing marginal returns outweighing the effect of spreading out the fixed costs is illustrated by the ________ average cost curve ________.
A. long-run; decreasing B. long-run; increasing C. short-run; decreasing D. short-run; increasing
Disposable income reflects
A) Personal income after taxes. B) Income before taxes. C) Net income from business activity. D) None of the above.
A supply curve is defined as the relationship between
A) the price of a good and the quantity that producers are willing to sell. B) the income of consumers and the quantity of a product that producers are willing to sell. C) the income of consumers and the quantity of a product that consumers are willing to buy. D) the price of a good and the quantity that consumers are willing to buy.
Which of the following is illegal under the Clayton Act of 1914?
a. Price discrimination as a tool for exploiting market power. b. A person serving on the board of directors of only one company. c. Automobile dealers selling cars from different manufacturers. d. Companies such as fast-food franchisers that allow franchisees to buy inputs, uniforms, and training from a source other than the franchiser.