Years ago, thousands of country music fans risked their lives by rushing to buy tickets for a Willie Nelson concert at Carnegie Hall. This behavior indicates
a. the ticket price was above the equilibrium price.
b. the ticket price was below the equilibrium price.
c. the ticket price was at the equilibrium price.
d. nothing about the equilibrium price.
b
Economics
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If a firm experiencing "economies of scale" decreases its output, its long-run average cost will decrease
a. True b. False
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Cost-push inflation is most likely to occur during a period of
a. falling input costs b. falling unemployment c. rising input costs d. military expansion e. military contraction
Economics