Suppose a recent and widely circulated medical article reports new benefits of exercise. Simultaneously, the price of the parts needed to make bikes falls. What is the likely effect on the equilibrium price and quantity of exercise bikes sold?
A. Price of exercise bikes remains the same and quantity sold increases.
B. The change in price is ambiguous, but the quantity sold increases.
C. Price of exercise bikes decreases and quantity sold remains the same.
D. Price of exercise bikes increases and quantity sold also increases.
Answer: B
Economics
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An increase in the market share of one oligopolist will not affect the market share of the other firms in the industry.
Answer the following statement true (T) or false (F)
Economics
Refer to the data provided in Table 10.2 below to answer the following question(s).
Table 10.2 
Refer to Table 10.2. Marginal revenue product of the ________ worker is $120.
A. second B. third C. fourth D. fifth
Economics