An airline can easily move its aircraft from one route to another. One interpretation of this is that the airline industry is an example of a contestable market.
Answer the following statement true (T) or false (F)
True
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As described in the text, which of the following statements best describes the strategy of many potato growers since 2005?
A) Growers have worked together to reduce supply and stabilize demand. As a result, equilibrium price has been propped up and allowed farmers to earn what they consider a decent profit. B) Growers have continued to compete vigorously with each other, causing prices and profits to decrease. C) Growers have restricted supply so much that there is now a severe shortage of potatoes in the United States. D) because efforts by potato growers to restrict supply are illegal in the United States, they have focused exclusively on increasing demand to increase their profits.
The demand curve for a product shows the quantity that
a. sellers are willing to sell at a particular price. b. buyers are willing and able to purchase at various prices c. buyers purchase in the market d. buyers are able to purchase at a particular price.
The result of effective screening and signaling can be:
A. more transactions take place. B. more information is credibly shared. C. surplus is increased for buyer and/or seller. D. All of these statements are true.
An important source of structural unemployment is
A. people looking for the right job decide to change jobs. B. recessions. C. seasonal variations in aggregate demand. D. unemployment insurance benefits.