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1. Clorox lowers the price of its GreenWorksTM bathroom cleaner. All other things remaining the same, choose how you think this will impact the market price of Pine-Sol. (Circle one).
a. It will raise the price of Pine-Sol because they are substitute products
b. It will lower the price of Pine-Sol because they are substitute products
c. It will raise the price of Pine-Sol because they are complement products
d. It will lower the price of Pine-Sol because they are complement products
Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the course
Critique on Earmarking Studying the working of earmarking in many OECD (organisation of economic cooperation and development) countries, Potter and Diamond (1999) pointed out
Severe drought hit the coffee industry hard this year; as a result, more people are now switching to tea. The first table below shows the original supply and demand quantities in t
Why is it considered well to bring all BOP's to zero? If BOP of any country is zero, it reflects that the present account of that country has sufficient balance to meet the n
merits and demerits of international trade
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How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
Short run equilibrium - Perfect competition: In the short-run, the perfectly competitive firm maximizes its profit by producing output where MC=MR=P. This is shown in the diag
once vaccinated,a person cannot catch a cold or give a cold to someone else. As a result,the marginal social benefit resulting from consumption of the vaccine.
What is the difference between wages and salaries
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