In the coordination failure model, increasing returns to scale are best explained by strategic

In the above figure, which part corresponds to a fall in the money wage rate?

A) Figure A B) Figure B C) Figure C D) Figure D

In the nation of Transporta, the income elasticity of demand for used cars is -2.66. So when incomes in this nation increase by 10 percent

A) the quantity of used cars demanded will increase by 26.6 percent. B) used cars will be normal goods. C) the quantity of used cars demanded will decrease by 26.6 percent. D) the demand curve for used cars will shift rightward.