Which of the following statements accurately explains the superstar phenomenon in wages?
a. Better carpenters earn more than average carpenters because people are willing to pay higher prices for higher-quality work.
b. The more productive an author is, the more books she can write each year, so the more she earns.
c. Talented movie stars earn more than equally talented mechanics because technology allows the delivery of the services provided by the movie stars to all interested customers.
d. Athletes get paid for performing services that everyday people perform as hobbies.
c
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The average domestic round-trip, including taxes and government fees, was $____.
Fill in the blank(s) with the appropriate word(s).
Because there are numerous choices for fast food purchases, the price elasticity of demand for Taco Bell food is likely
A) inelastic. B) unitary elastic. C) perfectly inelastic. D) elastic.