If the market for bottled spring water is characterized by a very elastic supply curve and a very inelastic demand curve, an outward shift in the supply curve would be reflected primarily in the form of

a. higher prices.
b. higher output.
c. lower prices.
d. lower output.

c

Economics

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Which theorists see international law as an expression of shared norms and common purpose, where each state has the interest of being known as a law-abiding member?

a. economic structuralists b. realists c. feminists d. constructivists

Economics

Because of the number of firms in monopolistic competition,

A) each firm has a large market share. B) it is possible for the firms to collude. C) no one firm can dominate the market. D) one firm has the ability to dictate market conditions. E) each firm must carefully monitor what its competitors do.

Economics