Recall the Application. If the organization in New Zealand was successful in getting the Olympics to include sheep shearing as a spectator sport, and this helped to raise the world price of wool, the quantity of wool supplied would ________ because
the market supply curve for wool is ________ sloped.
A) decrease; negatively B) increase; negatively
C) increase; positively D) decrease; positively
C
Economics
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The implication of the prisoners' dilemma for a long-run strategy is for firms to
a. Do nothing b. Differentiate your product that competitors cannot imitate c. Figure a way to lower their costs d. Both b and c
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An example of a public good is: a. a pizza
b. milk. c. a delivery truck. d. national defense.
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