Why are suburban stores more likely than downtown stores to provide free parking for their customers?
A) Fewer people drive their cars to downtown stores than to suburban stores.
B) Suburban people are more addicted to the automobile than are inner-city residents.
C) The cost of using land is higher in the downtown area.
D) There is not much land available in the downtown area.
C
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Refer to Table 14-4. If Alistair assumes that Baine would increase its advertising budget, what should it do?
A) Alistair should not change its advertising budget. B) Alistair should keep its own budget the same and allow Baine to incur the higher cost. C) Being a duopolist, Alistair is not affected by Baine's choices because it has a secure 50 percent market share. D) Alistair should also increase its advertising budget.
Explain: "The law of increasing additional cost is an inevitable phenomenon in economics."
What will be an ideal response?
"Granger laws":
a. were severely limited in scope through litigation. b. generally outlawed both place and person discrimination. c. established commissions with the power to investigate complaints. d. All of the above are correct. e. Only a and b are correct.
Graphically illustrate (using the WS and PS relations) and explain the effects of a reduction in the minimum wage on the equilibrium real wage, the natural rate of unemployment, the natural level of employment, and the natural level of output
What will be an ideal response?