When Smartville's personal computer assembly plant closed, 30% of the community's labor force was laid off. Following this event Joe's New Car Dealership (NCD, Inc) complained because the __________ new cars __________
a. quantity supplied of; fell
b. supply of; increased
c. quantity demanded of; fell
d. demand for; fell
e. demand for; was unchanged
D
Economics
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A student wrote: "A subsidy raises marginal social benefit above marginal social cost and eliminates the deadweight loss from underproduction." If you were the instructor, how would you correct this statement?
What will be an ideal response?
Economics
In 1961, seven companies in the ___________ industry were found guilty by the Supreme Court of illegal price-fixing and market-sharing agreements.
Fill in the blank(s) with the appropriate word(s).
Economics