Consider the market for portable air conditioners in equilibrium. A summer of unseasonably cool weather would cause
a. both the equilibrium price and quantity to decrease.
b. both the equilibrium price and quantity to increase.
c. the equilibrium price to increase and the equilibrium quantity to decrease.
d. the equilibrium price to decrease and the equilibrium quantity to increase.
a
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Refer to Table 21.2. The bottom 20 percent of earners took home ________ of all income earned in Mysteria
A) 5% B) 8.33% C) 10% D) 29.4%
Expenditures that are directly included in GDP accounts include
a. the value of housework done by householders b. the selling of illegal drugs c. playing tennis with friends on a Sunday afternoon d. casual labor in sweatshops that is unreported e. going to a Dodgers-Expos game on your day off
Allied Business Consultants employs five researchers that each work 8 hour days. In one day the researchers prepared 10 reports for its 2 largest clients. What was Allied Business Consultants' productivity?
a. 10 reports b. 5 reports per client c. 1.25 reports per hour d. 1/4 report per hour
A market situation in which there are very few sellers is
A) oligopoly. B) perfect competition. C) monopoly. D) monopolistic competition.