Ham and eggs are complements. If the price of ham rises, the demand for eggs will
A) increase or decrease but the demand curve for ham will not change.
B) decrease and the demand curve for ham will shift rightward.
C) not change but there will be a movement along the demand curve for eggs.
D) decrease and the demand curve for eggs will shift leftward.
D
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In an oligopoly, firms can increase their market power by
A) undertaking heavy advertising expenditure. B) colluding to set prices. C) selling to buyers who have market power. D) pursuing dominant strategies.
To an American, the demand curve for euros tells
a. that Americans do not want to purchase euros b. how many euros Americans would want to buy in a given time period, at each different exchange rate c. the real interest rate on foreign currency over time d. how many Americans are willing to buy euros e. how many euros have been purchased during a given time period