Suppose there are 11 buyers and 11 sellers,each willing to buy or sell one unit of a good,with values {$14,$13,$12,$11,$10,$9,$8,$7,$6,$5,$4,}.Assume no transaction costs and a competitive market,what is the equilibrium price in this market?
A) managers who treat people positively and as responsible adults will achieve the highest productivity B) the principle of specialization increases opportunities for self-actualization C) bureaucracy allows workers to control their work D) the concept of unity of direction leads to psychological success E) people dislike work, lack ambition, act irresponsibly, and prefer to be led
Referring to the Economics in Practice on page 320: A successful celebrity endorsement of a product will most likely ________ for the product, resulting in a higher equilibrium price and a larger equilibrium quantity.
A) increase the demand B) increase the supply C) decrease the demand D) decrease the supply
Shailene decides to make a donation to the Autism Research Institute. Which component of Shailene's attitude toward autism research does this represent?
A) behavioral component B) affective component C) cognitive component D) affordable component E) connected component