Fill in the blank: The Players Union went on strike against the NBA during the 1998-1999 season, canceling games for weeks
Other things constant, the strike and subsequent cancellation of games would tend to ________ the price elasticity of demand for hockey tickets during the same period the NBA games were canceled. A) worsen
B) preserve
C) increase
D) decrease
D
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Who bears the costs of a program to control rents at a maximum level?
A) landlords or owners of housing units B) consumers who face difficulty moving to a more suitable apartment C) homeless who cannot find rental units D) all of these
A subsidy to buyers has been placed in the market in the graph shown. The result is:
A. a higher quantity bought and sold at a higher price.
B. customers are worse off than before the subsidy.
C. producers are worse off than before the subsidy.
D. None of these is true.
The two primary factors determining monopoly market power are the firm's: a. revenue and the size of its customer base
b. variable cost curve and fixed cost structure. c. demand curve and cost structure. d. demand curve and the level of wealth within its market.
The maintenance of a framework of security and order through the establishment and enforcement of rules under which people can interact peacefully with one another and be secure in their person and property is known as the
a. productive function of government. b. protective function of government. c. transfer function of government. d. illegitimate function of government.