Michelle Palmisano has the rare talent to be a top rodeo rider, yet her winnings are not anywhere near the level of players in the major pro sports. The reason is that
a. anyone can ride in a rodeo
b. demand and supply have simultaneously shifted by unknown amounts
c. demand for her talent is not sufficient to support a high level of pay
d. technology for saddles has not advanced for a long time
e. consumer incomes have been increasing substantially
C
You might also like to view...
Interest rates are positive because inflation makes purchases more expensive in the future than today
Indicate whether the statement is true or false
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).Recall the Application. An increase in the production of beer resulted in the demand for hops because hops are ________ to beer.
A. inputs B. completely unrelated C. complements D. substitutes
The physical output that is due to the addition of one more unit of a variable factor of production is
A. average total cost. B. marginal cost. C. marginal product. D. average product.
The current account section in a nation's balance of payments includes:
A. its goods exports and imports, and its services exports and imports. B. foreign purchases of domestic assets. C. purchases of foreign assets. D. all of these.