Suppose chickens and beef cattle are produced by different companies on different sites
If bad weather causes an increase in the price of hay, a food eaten by beef cattle but not by chickens, the equilibrium price of beef will ________, and the equilibrium price of chicken will ________.
A) stay the same; increase
B) increase; decrease
C) decrease; increase
D) increase; increase
E) decrease; decrease
D
Economics
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The women's dress industry is monopolistically competitive because each firm has
A) a large market share. B) a very small market share. C) no market share. D) no competition for their market share. E) struck a deal with the many other firms about what price will be charged.
Economics
If the price level rises faster than the money wage rate, the real wage rate falls
Indicate whether the statement is true or false
Economics