If sugar and Nutrasweet are substitutes, then we can be certain that an increase in the price of sugar will lead to an increase in the consumption of:
A. sugar only.
B. Nutrasweet only.
C. sugar and Nutrasweet.
D. None of the statements is correct.
Answer: B
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The lowest point on a perfectly competitive firm's short-run supply curve corresponds to the minimum point on its
A. AFC curve. B. MC curve. C. AVC curve. D. ATC curve.
How does the market for inputs like labor differ from the market for goods and services?
What will be an ideal response?
Suppose the current stock of greenhouse gases in the atmosphere is 100 million tons, the stock dissipation rate is 0.02, and we will emit 4 million tons into the atmosphere this year
What is the stock level of greenhouse gases expected to be for next year? A) 98 million tons B) 100 million tons C) 102 million tons D) 104 million tons
All of the following are true regarding false advertising except which one?
A) It can misrepresents the characteristics of a good or service. B) It can misrepresent the nature of a good or service. C) It can misrepresents the price of a good or service. D) It can misrepresents the quality of a good or service.