Elvira decreased her consumption of bananas when the price of peanut butter increased. For Elvira, peanut butter and bananas are
A) complements in consumption. B) both luxury goods.
C) both inferior goods. D) substitutes in consumption.
A
Economics
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In a perfectly competitive labor market, no individual firm's employment decision can affect the market wage because
a. union agreements prevent any firm from altering the wage rate b. each firm is ignorant of the market wage rate c. the demand for labor is a derived demand d. each firm hires a very small portion of the labor services available e. the wage rate is regulated by the government
Economics
Section 1 of the Sherman Antitrust Act makes it illegal to
A. price discriminate. B. have an oligopoly. C. form a monopolistically competitive firm. D. restrain trade.
Economics