Ceteris paribus, an increase in the number of sellers of running shoes causes equilibrium price to
A. Increase and equilibrium quantity to increase.
B. Increase and equilibrium quantity to decrease.
C. Decrease and equilibrium quantity to increase.
D. Decrease and equilibrium quantity to decrease.
Answer: C
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Refer to the production function. The marginal product at 5 units equals ________ units
Fill in the blank(s) with correct word
The conflict between the Vice President of Marketing and her sales staff arises because
a. the sales staff are unwilling to offer discounts b. the Vice President does not want to negotiate aggressively enough c. the sales staff do not want to negotiate too aggressively d. the Vice President is more willing to offer discounts to make the sale
The Clayton Act prohibits all horizontal mergers, regardless of their economic consequences
a. True b. False
Which of the following is the most frequently used parameter when comparing two economies?
a. Nominal GDP b. Real GDP c. Per capita real GDP d. Currency adjusted GDP