Multiple Choice
The arrival of Michael Jordan, Larry Bird, and Magic Johnson in the 1980s increased the popularity of pro basketball. This led to
A) an increase in the equilibrium quantity of professional basketball
B) a decrease in the equilibrium quantity of professional basketball
C) a decrease in the price of professional basketball tickets
D) a decrease in pro basketball players' salaries
E) an increase in the price of professional basketball tickets but no change in game attendance
Correct Answer:
Verified
Correct Answer:
Verified
Q11: If the market for beef cattle was
Q58: Economists emphasize the importance of equilibrium in
Q63: A decrease in supply will cause a(n)<br>A)increase
Q75: Sugar and honey are viewed as substitutes
Q89: If the demand for bicycles increases,<br>A)the quantity
Q106: Suppliers recognize there is a shortage in
Q121: A demand curve usually has a<br>A)negative slope
Q211: The demand curve for spinach shows the
Q237: As the price of ballpoint pens increases,
Q242: Which of the following would cause an