Assume that it is predicted that for the years after you graduate from college, the entire economy will experience a long period of prosperity when incomes grow rapidly
What type of industry would be the best for you to find employment if this prediction is correct? An industry that produces a product that is A) income elastic.
B) income inelastic.
C) inferior.
D) a substitute good.
E) none of these industries
A
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If Nike and Adidas are faced with the game in the figure, we can see that:
A. Nike has a dominant strategy, but Adidas does not.
B. Adidas has a dominant strategy, but Nike does not.
C. Neither company has a dominant strategy.
D. Both companies have a dominant strategy.
A manager invests $400,000 in a technology that should reduce the overall costs of production. The company managed to reduce their cost per unit from $2 to $1.85 . This affects
a. Economic profits b. Accounting profits c. Both a and b d. None of the above