How would a decrease in the price of the feed grains used to feed cattle affect the market for beef?
a. The demand for beef would increase, increasing beef prices.
b. The demand for beef would decrease, decreasing beef prices.
c. The supply of beef would increase, decreasing beef prices.
d. The supply of beef would decrease, increasing beef prices.
c
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What best describes westward movement of population between 1800-1860?
a. The 1850s was the decade when the largest number of people moved to the west. b. The large increase in and sales in this period was based on speculation. c. Migrants moved to the west because they were "pushed" out of the east, where conditions were getting worse. d. Corn prices were relatively low in the decades when migration to the west was largest.
In a typical cartel agreement, the cartel maximizes profit when it: a. behaves as a duopolist
b. is flexible in enforcing production targets. c. behaves as a monopolist. d. behaves as a perfectly competitive firm.