Which of the following will decrease the demand for fast-food burger workers' labor?
a. More people start working two jobs and eat more fast food.
b. The price of pizza, a substitute for burgers, decreases.
c. A new technology allows burgers to be produced faster.
d. Workers get additional training that increases productivity.
e. Workers form a union and get higher wages.
b
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If not all prices adjust instantly to changing economic circumstances, an unexpected fall in the price level leaves some firms with higher-than-desired prices, and these higher-than-desired prices depress sales and induce firms to ________ the quantity of goods and services they produce.
a) increase substantially b) increase slightly c) reduce d) make no changes to
Refer to Figure 8.1. The Nash equilibrium is found where Charla plays ________ and where Mirna plays ________
A) Install; Install B) Install; Don't Install C) Don't Install; Install D) Don't Install; Don't Install