List some factors that might make the threat of a strike more effective
These include low inventory levels, an inelastic demand for the product, a strong seasonal demand for the product, high fixed costs for the firm, and brand loyalty by consumers.
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Hold the prices of goods, as well as Amy’s preferences, constant. If Amy’s income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
Consider the following weekly production possibilities of gloves and hats in Panama and Russia:
Russia Panama Gloves 20 180 Hats 80 90 What is each country's opportunity cost of producing gloves and hats? If the countries could, should they trade?
Starting at point B in the diagram below, identify which combinations of points illustrate technological change. Give a brief explanation to support your answer
What will be an ideal response?
Any market that we are studying and the markets for the related inputs must all be in equilibrium at the same time. This leads to:
A. simultaneous equilibrium effects. B. partial equilibrium effects. C. general equilibrium effects. D. equilibrium-induced changes.