Daily newspapers have been rising in price in recent years because:
A. wages in the newspaper industry have risen dramatically.
B. the overhead costs have recently been spread over a shrinking number of buyers.
C. capital has replaced virtually all labor used to produce a newspaper.
D. long-standing government subsidies have been removed in most major cities.
Answer: B
Economics
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In case of an increase in product prices:
A) the quantity effect always dominates the price effect. B) the price effect always dominates the quantity effect. C) when the quantity effect dominates the price effect, total revenue is rising. D) when the quantity effect dominates the price effect, total revenue is falling.
Economics