Either an increase in the number of buyers or an increase in tastes or preferences for a good or service will increase the market demand for that good or service
a. True
b. False
Indicate whether the statement is true or false
True
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Last year, Casey grew fresh vegetables, which she sold at her local farmers market, but this year, Casey did not plant any vegetables and went to work at a bank instead. Which of the following best explains Casey's career change?
A. Casey's opportunity costs of gardening exceeded Casey's opportunity costs of working at the bank. B. Casey's opportunity costs of working at the bank exceeded Casey's benefits from gardening. C. Casey's opportunity costs of gardening exceeded Casey's benefits from working at the bank. D. Casey's opportunity costs of working at the bank exceeded Casey's opportunity costs of gardening.
In what ways can expectations change your demand for a product today?
What will be an ideal response?
Differentiate between the short run and the long run.
What will be an ideal response?
If neither firm has a dominant strategy, a Nash equilibrium cannot exist
Indicate whether the statement is true or false