On Tuesday, a movie theater discounts tickets to all shows. What would we expect to see happen to popcorn on Tuesdays?
A. Increased demand for popcorn
B. Decreased supply of popcorn
C. Decreased demand for popcorn
D. Increased supply of popcorn
Answer: A
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According to the graph shown, if this were a perfectly competitive market, the outcome in the short run would be:
This graph shows the cost and revenue curves faced by a monopoly.
A. Q1, P1.
B. Q1, P3.
C. Q2, P2.
D. The graph is of a monopoly, and therefore there is no way to determine a perfectly competitive outcome.
The list of tasks, duties, and responsibilities that make up a job is a ________
A. job analysis. B. job evaluation C. job specification. D. a job description
The price elasticity of supply is ________ elastic over time because ________.
A. more; producers get accustomed to the price changes B. less; the ideal number of firms have time to move into or out of the industry C. more; producers have a longer time to adjust their production decisions D. less; producers get accustomed to the price changes
When there is a tendency for a particular product to come into favor with additional consumers because other consumers have chosen to purchase the product
A) negative market feedback occurs. B) positive market feedback occurs. C) there is no dominant strategy. D) a price war must result.