If consumers' incomes increase and the demand for bus rides decreases
A) bus rides are a normal good.
B) consumers are behaving irrationally.
C) bus rides are an inferior good.
D) none of the above.
C
Economics
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According to the Application, Singapore requires workers who are under 50 years of age to save ________ percent of their earnings, with employers contributing another ________ percent
A) 50; 30 B) 20; 15.5 C) 10; 10 D) 40; 20
Economics
If an average cost pricing rule is imposed on the firm in the figure above, the firm will make an economic profit of
A) zero. B) -$240. C) $150. D) $400.
Economics