If the price of hair styling increases, then
A) hair styling salons hire fewer workers but makes more profit.
B) hair stylists demand an increase in wages and the salons hire fewer workers.
C) the value of marginal product of each hair stylist increases and the demand curve for hair stylists shifts leftward.
D) the value of marginal product of each hair stylist increases and the demand curve for hair stylists shifts rightward.
D
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Financial investments, such as mutual fund purchases, are included in the national income component
a. True b. False Indicate whether the statement is true or false
Suppose Cournot duopolists firms face the same market demand curve, but have differing costs. At the Nash-Cournot equilibrium, the firm with the lower cost will
A) have a lower price for its product than its competitor. B) produce a smaller output than its competitor. C) have a higher price for its product than its competitor. D) produce a larger output than its competitor.