In many high-tech industries in the economy, such as computers, medical equipment, and automobiles
a. price competition is utilized by firms more than innovation to compete with rivals.
b. firms compete on the basis of innovation only; never engaging in price competition.
c. innovation is utilized by firms to compete with rivals more than price competition.
d. firms use price competition only; never engaging in innovation to compete with rivals.
e. firms utilize innovation and price competition equally to compete with rivals.
c
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If a significant number of part-time workers successfully find full-time employment, then
A) the unemployment rate will fall. B) the labor force participation rate will increase.. C) the unemployment rate will remain unchanged. D) the unemployment rate will rise. E) Both answers A and B are correct.
In the figure above, a decrease in the price of a bag of potato chips would result in the budget line
A) making a parallel shift toward point a. B) making a parallel shift toward point c. C) becoming flatter. D) becoming steeper.