Your best friend calls and gives you the latest stock market "hot tip" that he heard at the health club. Should you act on this information? Why or why not?
What will be an ideal response?
No, if this information is readily available, it will already be reflected in the stock price.
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Other things equal, the supply of index cards is likely to be affected by all of the following except one. Which is the exception?
a. the price of wood pulp used in the production of index cards b. the technology in the index card production process c. the price of index cards d. the price of packaging material (a substitute in production) e. the future price of index cards expected by producers
A firm's demand for labor depends on, in part, the demand for the firm's product. To summarize this idea, economists say that the demand for labor is:
a. derived demand. b. marginal demand. c. secondary demand. d. monopsonistic demand.