There's not a single golf course in downtown Chicago because
A) it would be physically impossible to produce.
B) it would ruin the hustle and bustle of the city.
C) the opportunity cost of creating such a course is too low.
D) the demand for land for non-golf uses is high enough to discourage such an investment.
E) all of the above are true.
D
Economics
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Is wage discrimination more likely in competitive or monopolistic markets?
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The OPEC oil shocks in 1973-1974 are an example of:
A) favorable supply shock, shifting the short-run aggregate supply curve rightward.
B) favorable supply shock, shifting the short-run aggregate supply curve leftward.
C) adverse supply shock, shifting the short-run aggregate supply curve rightward.
D) adverse supply shock, shifting the short-run aggregate supply curve leftward.
Economics