Economists believe that people respond in a predictable way to changes in costs and benefits. The term that best describes this phenomenon is
a. opportunity cost
b. scarcity
c. innovation
d. marginal analysis
e. other things equal (or ceteris paribus)
D
Economics
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Because the United States has had substantial deficits in goods and services, it has also necessarily had surpluses in
A. the federal budget. B. the sales of assets. C. the sales of military goods. D. its gold supplies.
Economics
Given that the firm offers both the products, what prices can it offer to motivate the two groups to profitably self-sort into buying the correct brand
a. No-name $60; High-end $100 b. No-name $50; High-end $100 c. No-name $50; High-end $90 d. No-name $60; High-end $90
Economics