Question
1-We observe that the price of food rises and the quantity purchased also rises. This means the A. supply curve shifted to the left. B.
1-We observe that the price of food rises and the quantity purchased also rises. This means the
A. | supply curve shifted to the left. | |
B. | demand curve shifted to the right. | |
C. | demand curve shifted to the left. | |
D. | supply curve shifted to the right. |
2-Owners use joint ventures in order to:
A. | Set rules. | |
B. | Increase market power. | |
C. | Increase profits. | |
D. | Limit competition. | |
E. | All of the above. | |
F. | None of the above. |
3- In sports gambling, illegal bookies operate outside the law so there are no taxes. This significantly reduces overhead costs and could make them a smarter financial choice for gamblers.
True
False
4-A strike and a lock-out are both initiated by the team owner.
True
False
5-The Beer Wars in the late 1970s caused the value of MLB broadcast rights to fall and they did not recover until the 1980s.
True
False
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