A recent decline in interest rates made home construction more affordable for many families. The consequent increase in construction produced a rightward shift in the demand curves for construction materials. Economists would say that the change in demand for materials is due to
A. the principle of marginal productivity.
B. rent seeking.
C. diminishing marginal returns.
D. derived demand.
Answer: D
Economics
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Under what conditions does an oligopoly market result in the same outcome as monopoly? What does this imply for the oligopoly's long-run profits?
What will be an ideal response?
Economics
Refer to the saving schedule above. The break-even income would be level:
A. 0
B. 1
C. 2
D. 3
Economics