For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller. Industries that face demand behavior of this type are known as:
A. natural monopolies.
B. cartels.
C. cyclical industries.
D. constant-cost industries.
C. cyclical industries.
Economics
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When a hard frost hits orange groves in Florida, the supply of orange juice ________ and price ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Economics
What are social costs? How do they differ from private costs?
What will be an ideal response?
Economics