The recent increase in popularity of professional basketball has resulted in
a. a decrease in the price of tickets to basketball games
b. an increase in the price of professional basketball tickets
c. increased competition among pro basketball teams
d. a rise in the price of college basketball tickets
e. the bankruptcy of some pro basketball teams
B
Economics
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Changes in what four variables will shift the long run aggregate supply curve?
Economics
All of the following are characteristics of a perfectly competitive industry EXCEPT
A) the product sold is homogeneous. B) firms in the industry are price takers. C) buyers and sellers have equal access to information. D) there are a large number of buyers and sellers with only a few being able to influence the market price.
Economics