Which of the following is NOT an example of consumer behavior consistent with the standard assumptions of microeconomic theory?
A) A concern for fairness can influence purchasing patterns.
B) When demand increases, all else being equal, consumers expect price to rise.
C) After a snowstorm, the demand for snow shovels increases.
D) Snow shovels and snow plows are substitute goods.
E) none of the above
A
Economics
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All of the following are indicators of a nation's standard of living except
A. infant mortality rate. B. life expectancy. C. literacy rate. D. the inflation rate measured by CPI.
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The long run is a planning period:
a. during which the firm can vary all inputs including its plant size. b. less than six months. c. less than one year. d. less than five years.
Economics