Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If Anna holds an auction between the two bidders, and both have high values, she would earn ___ from the auction

Short-run macroeconomic equilibrium occurs when

A) structural and frictional unemployment equal zero. B) the equilibrium lies on the long-run aggregate supply curve. C) aggregate demand and short-run aggregate supply intersect. D) A and B

Explain why a decrease in an input price causes less of an increase in the quantity demanded of the factor if we assumed that product price remained constant

What will be an ideal response?