A fish hatchery raises brook trout and rainbow trout. An increase in the market price of brook trout therefore tends to
A) reduce the demand for brook trout.
B) increase the hatchery's cost of raising rainbow trout.
C) increase the demand for brook trout.
D) decrease the hatchery's cost of raising rainbow trout.
B
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The Federal Trade Commission
a. was abolished by the Celler-Kefauver Act b. was established when the Antitrust Division of the Justice Department was eliminated c. largely deals with telephone and utility regulation d. is a weak and ineffective government agency e. investigates unfair and deceptive trade practices
When neo-Keynesians looked at 1970s–1980s inflation and unemployment data, they found
a. not a single Phillips curve, but a set of Phillips curves b. a relatively well-behaved downward-sloping Phillips curve c. a vertical Phillips curve, which helped to explain stagflation d. a Phillips curve that was very similar to the Phillips curve of the 1960s e. a Phillips curve that behaved like a Laffer curve