The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. This would cause the price for Nike shoes_____________ and the quantity demanded for Nike shoes ____________
a. Uncertain; decreases
b. Decreases; increases
c. Decreases; uncertain
d. Increases; uncertain
d
You might also like to view...
The statement “Resources employed in producing X are better suited to making Y” is another way of saying
A. the production possibilities frontier is “bowed out.” B. the production possibilities frontier is a straight line. C. the production possibilities frontier is “bowed in.” D. resources are unproductive. E. resources have no opportunity cost.
If a firm produces 10 units, TC=$100 . When the firm increase its output to 15 units, TC= $150 . The firm's AVC equal to
a. $50 b. $100 c. $5 d. $10
If the price of the good measured on the horizontal axis is subject to volume discounts, then:
A. the budget line will get steeper as the consumer moves along it from left to right. B. the budget line will get flatter as the consumer moves along it from left to right. C. the indifference curve will get steeper as the consumer moves along it from left to right. D. the indifference curve will get flatter as the consumer moves along it from left to right.
If tablet computers are considered substitutes for e-readers, the decline in the price of e-readers would, all else equal,
A) increase the demand for tablet computers. B) decrease the demand for tablet computers. C) increase the quantity of tablet computers demanded. D) decrease the quantity of tablet computers demanded.