Suppose that the number of companies selling computer software decreases. How does this change affect the supply of computer software and the supply curve of computer software?
What will be an ideal response?
A decrease in the number of sellers decreases the supply. Hence the decrease in the number of companies selling computer software decreases the supply of computer software and shifts the supply curve of computer software leftward.
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In the prisoner's dilemma game:
A. a stable outcome is impossible. B. only one player has a dominant strategy. C. a stable outcome is possible. D. a commitment strategy is needed to reach a stable outcome.
The components of M2 that are not also in M1:
A. sum to an amount that is smaller than the sum of the components of M1. B. are usable for making payments, but at a greater cost or inconvenience than currency or checks. C. are not usable for making payments. D. pay lower rates of interest than do the components of M1.
In general, the costs tariffs and quotas impose on consumers are
A) large in total but relatively small per person. B) small in total but relatively large per person. C) large in total and large per person. D) small in total and small per person.
Why does an entrepreneur deserve to be compensated with profit?
What will be an ideal response?