The figure above shows the market for iPods. Which of the following creates a movement from point A to point B?
A) a decrease in the price of Zunes, a substitute for iPods
B) a requirement that all students at universities have an iPod
C) a decrease in the price of iPods
D) an increase in the price of iPods
E) an increase in people's incomes
C
Economics
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The above figure shows a payoff matrix for two firms, A and B, that must choose between a high-price strategy and a low-price strategy. For firm B
A) setting a high price is the dominant strategy. B) setting a low price is the dominant strategy. C) there is no dominant strategy. D) doing the opposite of firm A is always the best strategy.
Economics
What is the ceteris paribus condition?
What will be an ideal response?
Economics