Due to increased competition, Hit-Hard, a baseball bat manufacturer, decreased the price of its product. This was followed by a decrease in price by all the other manufacturers. Which of the following will be an impact of this price change in the market for baseball bats.
a. The quantity supplied of baseball bats will increase.
b. The quantity supplied of baseball bats will decrease.
c. The
supply of baseball bats will increase.
d. The supply of baseball bats will decrease.
b
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If the net benefit of Project A is $5 and that of Project B is $8, switching from Project A to Project B:
A) reduces the net benefit by $3. B) increases the net benefit by $3. C) increases the net benefit by $8. D) decreases the net benefit by $8.
When a firm is experiencing decreasing marginal costs, it could be because
a. The average costs are increasing b. The firm is going down its learning curve c. The firm's marginal productivity is increasing d. Both C and D
Suppose a social activist collecting information on the level of air pollutants in sparsely populated regions concludes that pollution levels are positively related to population. Since her sample set is restricted only to sparsely populated regions her outcome would be erroneous due to:
a. recognition heuristic. b. availability heuristic. c. representative heuristic. d. selection bias.
In the United States, which part of government investigates claims of subsidies or dumping?
What will be an ideal response?