What would most likely happen to the price of cable TV in Sydney, NE, when the single cable TV firm now has a new competitor coming into town?
A. Prices would decrease.
B. Prices would stay the same.
C. Prices would rise.
D. Prices would be internalized.
Answer: C
You might also like to view...
"Even if there is a liquidity trap or interest-insensitive investment, a falling price level will increase the real money supply and real wealth, and this impacts consumption"
This is a statement a __________ economist might make as an explanation of why the economy __________ pull itself out of a recession. A) Classical; will B) Classical; may not be able to C) Keynesian; will D) Keynesian; may not be able to
Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because
a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.
Excess capacity characterizes firms in monopolistically competitive markets, even in situations of long-run equilibrium
a. True b. False Indicate whether the statement is true or false
Trish grows oregano in her backyard to use in her homemade pesto sauce. How is this gardening included in GDP?
A. It is included in real GDP. B. It is included in nominal GDP. C. It is not included in GDP. D. It is included as an intermediate good.