If the market clearing price of computer tablets rises from $400 to $600, and the market clearing output decreases from 5 million to 4 million units,
A) demand decreased and supply remained unchanged.
B) supply increased and demand remained unchanged.
C) demand increased and supply remained unchanged.
D) supply decreased and demand remained unchanged.
D
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Constellation Brands Inc is the world's biggest wine firm with 300-plus brands, from jug wines to coveted California reds, including the Clos du Bois, Geyser Peak and Woodbridge by Robert Mondavi labels
Based on this characteristic of firms, why would Constellation be more efficient than a market at coordinating economic activity? A) Constellation has economies of scope. B) Constellation has lower transaction costs. C) Constellation has economies of scale. D) Constellation has economies of team production.
Based on price setting behavior, we know that a reduction in the unemployment rate will cause
A) no change in the real wage. B) a reduction in the real wage. C) an increase in the real wage. D) an upward shift of the PS curve.