Based on the answer above, the price for laptops _____________ and the quantity supplied for laptops ____________
a. Increase; increase
b. Increase; decrease
c. Decrease; increase
d. Decrease, decrease
b
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Jaime's father gives her a pen for her graduation from college, but Jaime wants a smartphone. This implies that
A) Jaime's father is not acting out of self-interest because he knows that she really wants a smartphone. B) Jaime's father is acting out of self-interest because he wants to give her something useful. C) Jaime is not acting out of her self-interest by wanting something different from what her father gives her. D) Jaime is not rational by asking for a smartphone instead of a pen.
This agency is responsible for regulating the quality and safety of foods, health and medical products, pharmaceuticals, cosmetics, and animal feed
A) Environmental Protection Agency B) Food and Drug Administration C) Equal Employment Opportunity Commission D) Federal Trade Commission
Explain why some economists believe an efficiency wage serves to make a business more profitable.
What will be an ideal response?
If demand for a product is elastic, the value of the price elasticity coefficient is:
A. zero. B. greater than one. C. equal to one. D. less than one.