Studies at Cornell University revealed that chickens grow 2 percent larger when a red mitten is placed in their cage and Vivaldi is played in the coop. Resultant feed savings are estimated at $60 million a year. In the chicken market, the
a. demand curve shifts to the right.
b. supply curve shifts to the right.
c. price will rise.
d. quantity sold will fall.
b
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During the 1990s and the first decade of the 2000s
a. polls have shown that U.S. citizens are more concerned about inflation than any other national problem b. the U.S. inflation rate reached double digits (10 percent or higher) c. the U.S. economy consistently experienced deflation (a falling price level) d. the U.S. inflation rate averaged about 8 percent per year e. the U.S. inflation rate averaged less than 3 percent per year
In the short run the firm has at least one fixed input
a. True b. False Indicate whether the statement is true or false
For a firm that sells an information product, the long-run equilibrium exists at a point at which economic profits are
A. zero. B. positive. C. negative. D. dependent upon the particular product.
Economic integration
A. occurs when countries are granted most-favored-nation status. B. occurs when one country voluntarily agrees to reduce its exports to another country. C. occurs when two or more nations join to form a free-trade zone. D. occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets.