Which of the following decreases supply in the market for pizza?
a. Pizza shop employees successfully organize a union and negotiate a pay increase.
b. Cheese prices drop because price supports for dairy farmers are removed.
c. Suppose that some hot sandwich shops can also produce pizzas, and consumer demand for hot sandwiches declines sharply, reducing the profitability of producing hot sandwiches.
d. The Surgeon General announces that eating pizza reduces the incidence of stomach cancer.
a
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As more people started building houses in your community, more street lights were installed in your locality making it safer and easier to drive through. This is an example of a(n) ________
A) pecuniary externality B) network externality C) moral hazard D) adverse selection
Economists concerned about the behavior of individual households, firms, and industries are studying:
A) microeconomics. B) macroeconomics. C) neither macroeconomics nor microeconomics D) the "forest" of economic behavior, rather than the "trees."