Which of the following would not shift the demand curve for mp3 players?
a. a decrease in the price of mp3 players
b. a fad that makes mp3 players more popular among 12-25 year olds
c. an increase in the price of digital music downloads, a complement for mp3 players
d. a decrease in the price of satellite radio, a substitute for mp3 players
a
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Suppose the price of coffee is $3 each, the price of bagels is $2 each and a person's budget is $40. The person's real income is
A) $40. B) $13.33 in terms of bagels. C) $13.33 in terms of coffee. D) $8.
Monopolistically competitive firms could reduce the average total cost of producing by increasing output; therefore, these firms have
When the Fed buys T-bills from banks:
A. the demand for bank reserves rises. B. the supply of T-bills rises. C. the supply of bank reserves rises. D. the supply of bank reserves falls.
If a business finds its production is becoming more efficient as it increases production, the organization is experiencing what specialization advantage?