Candy makers accurately anticipate the increase in demand for candy for Halloween so that the supply of candy and demand for candy increase the same amount. As a result, the price of candy ________ and the quantity of candy ________
A) rises; does not change
B) falls; increases
C) does not change; increases
D) does not change; does not change
E) rises; increases
C
Economics
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Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. The payoffs in the lower-right cell of the payoff matrix would change to
A) 0, 0. B) 550, 100. C) 100, 550. D) The payoffs would not change.
Economics
Which of the following is NOT a factor that can cause wage inequality across workers producing the same good?
A) Differences in compensating wages B) Differences in productivity and human capital C) The nature and extent of discrimination in the job market D) The market price of the final good being produced by the workers
Economics