A decrease in the demand for recreational fishing boats might be caused by an increase in the:
A. income of sports fishers.
B. price of outboard motors.
C. size and number of fish available.
D. price of sailing boats.
Answer: B
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Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses
Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people that yearly CT scans are critical for good health. How will this affect a typical firm that remains in the industry? A) The firm's marginal revenue curve and average cost curve shift upwards in response to the increase in market price and advertising expenditure. The firm increases output until it starts breaking even. B) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production until it breaks even. C) The firm's supply curve shifts right and its marginal revenue curve shifts upwards as the market price rises and ultimately the firm starts making profits. D) The marginal revenue curve shifts upwards, the firm's output increases along its marginal cost curve, it expands production and eventually starts making profits.
The end of racial preferences in college admissions has had no noticeable effect on minority enrollments
Indicate whether the statement is true or false
An increase in the market clearing exchange value of the home nation's currency in terms of the currency of another nation is a home currency
A) appreciation. B) depreciation. C) devaluation. D) revaluation.
Suppose you used the FV Excel function to determine whether your rate of saving will be sufficient to purchase the $1 million item you want ten years from now. Your savings rate is
A. Too high if the FV calculation yields a number less than $1 million and too low otherwise. B. Too high if the FV calculation yields a number more than $1 million and too low otherwise. C. Too low D. Just right