When new goods are introduced, consumers have more variety from which to choose. As a result, each dollar is worth
a. more, and the cost of living increases.
b. more, and the cost of living decreases.
c. less, and the cost of living increases.
d. less, and the cost of living decreases.
b
Economics
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Economies of scale and limited demand can form a natural barrier to entry that can create a natural oligopoly
Indicate whether the statement is true or false
Economics
If gold becomes acceptable as a medium of exchange, the demand for gold will ________ and the demand for bonds will ________, everything else held constant
A) decrease; decrease B) decrease; increase C) increase; increase D) increase; decrease
Economics