One reason why the price elasticity of supply for DVD players is greater than one is that
A) the cost of producing DVD players is small.
B) the storage of DVD players is not possible.
C) DVD players can be easily stored.
D) the demand for DVD players is fairly large.
E) DVD players require relatively advanced technology for their production.
C
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The Glass-Steagall Act of 1933 separated commercial banks from most of their securities business
Indicate whether the statement is true or false
This factor contributes to the winner's curse
a. your estimate of the value of the object was the most optimistic b. your bid was not the highest c. there were not many other bidders you had to beat out d. you shaded your bid too much
When the price of a good increases, all else equal, the higher price
a. reduces the consumer's set of buying opportunities. b. leads to a parallel shift of the budget constraint. c. will necessarily lead to an increase in the consumption of goods whose price did not change. d. generally discourages the consumption of inferior goods.
An economist estimates the value of a nature preserve by calculating the price premium people pay for houses located adjacent to the preserve. This is an example of what type of economic valuation?
a. Hedonic pricing b. Production function valuation c. Contingent valuation d. Travel cost method e. Engineering cost valuation