A television station reports that the price of orange juice has declined but the quantity traded has increased. This situation could be caused by a(n):
A. Increased preference for orange juice among buyers
B. Significant decrease in the harvest of oranges in the nation's orchards
C. Improvement in the technology of producing orange juice
D. Decrease in income, and orange juice is a normal good
C. Improvement in the technology of producing orange juice
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A firm's long-run average cost curve is derived from a series of short-run average total cost curves
Indicate whether the statement is true or false
The leading center of Eurocurrency trading is
A) New York City. B) Chicago. C) London. D) Paris. E) Frankfurt.
When state universities charge higher tuition fees to out-of-state students than to local students, the universities are practicing
A) first-degree discrimination. B) second-degree discrimination. C) third-degree discrimination. D) fourth-degree discrimination.
By 1920, the average work week in manufacturing was about _______hours, although it was significantly lower for _________
a. 40; immigrants b. 50; skilled workers c. 60; unskilled workers d. 45; women