What do we mean when we say that a good is rival in consumption?
A good is rival in consumption if one person's use of the good reduces another person's ability to use it.
Economics
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Which of the following is likely to lead to a right shift in the supply curve of cotton?
A) A rise in labor costs due to wage demands by labor unions B) A decrease in the price of cotton C) An increase in labor productivity due to training programs D) An increase in the price of cotton
Economics
Vertical contracts that aim to decrease retailer prices typically
a. Benefit the consumer and the manufacturer but hurt the retailer b. Benefit the manufacturer and retailer but hurt the consumer c. Benefit the retailer and consumer but hurt the manufacturer d. Benefit the manufacturer, retailer and consumer
Economics