Coal mining is a dangerous and dirty job. Suppose someone developed new machinery that made coal mining safer and cleaner; at the same time, suppose it made coal miners more productive. We would expect that the wages of coal miners would
a. rise.
b. fall.
c. stay exactly the same.
d. rise, fall, or stay the same.
d
Economics
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Derive the budget line equation for the case where good 1 is a composite good. What is the vertical intercept and what is the slope?
What will be an ideal response?
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So long as production in the oligopoly still occurs, recurring fixed costs have no impact on output under Cournot competition but do have an impact under Bertrand competition.
Answer the following statement true (T) or false (F)
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In Figure 3-7 above, when autonomous planned spending is $250, the equilibrium income level is
A) $1000. B) $1250. C) $1500. D) $2500.
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In the United States, what percentage of smog comes from automobiles?
a. 5 percent b. 15 percent c. 25 percent d. 40 percent e. 80 percent
Economics