Suppose consumer preference for beef starts to rise while the cost of raising beef continues to rise. In the market for beef, this would be represented by the equilibrium price ________ and the equilibrium quantity ________.
A) increasing; increasing or decreasing B) increasing or decreasing; increasing
C) decreasing; increasing or decreasing D) increasing or decreasing; decreasing
Question 2
It is difficult to determine if foreign companies are selling their products for prices below their costs of production because
A) domestic taxes increase the firms' costs but it is difficult to determine the incidence of these taxes.
B) the firms have no legal obligation to reveal this information.
C) costs are calculated in the firms' local currencies.
D) the true costs of production are difficult to calculate.
cheat sheet for cuts of beef.
Rise of the mobile phone
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Sea-Level Rise
A rise in global temperature of more than 3˚C
Suppose that we have a sample space with five equally likely experimental outcomes: E1, E2, E3, ...