Assuming mustard and burgers are complements, a decline in the price of burgers will
A) decrease the demand for burgers.
B) decrease in the quantity demanded of burgers.
C) increase the demand for mustard.
D) decrease the demand for mustard.
Answer is C) increase the demand for mustard.
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The United States is a leading exporter of wheat. What explains the comparative advantage of the United States in wheat production?
A) a large supply of unskilled labor B) positive externalities C) investment by multinational firms such as Archer-Daniels-Midland and Tyson Foods Inc. D) climate and soil conditions in the United States which are well-suited for wheat production
"External economies" derive from all of the following except
(a) the joint use of transportation facilities. (b) labor force concentrations in urban areas. (c) social overhead facilities such as police and fire protection. (d) economies of management associated with large firms.