A surprise hit movie shows the hero driving a Ford Mustang. Which of the following would most likely happen first?
a. The quality of Ford Mustangs would decrease.
b. The price for Ford Mustangs would decrease
c. The supply of Ford Mustangs would increase.
d. The demand for Ford Mustangs would increase.
d. The demand for Ford Mustangs would increase.
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A contestable market is one in which
A) one dominant firm sets the market price, and all other firms are price takers. B) if a firm cuts its price, all other firms will follow the price cut. C) one or a small number of firms operate, but faces competition from potential entrants. D) a group of firms enter into an agreement to restrict output and raise prices.
Over the last several decades, the amount of government investment in U.S. infrastructure in real terms has: a. remained the same
b. decreased. c. increased marginally. d. increased substantially.