--%>
Assignment Help - homework help

Problem on Complementary Goods

From the viewpoints of auto makers, the weakening of OPEC oil cartel in the year 1990s resulted in a/an: (1) Rise in demand for cars. (2) Reduction in demand for cars. (3) Rise in the supply of cars. (4) Reduction in supply of cars.

Can someone please help me in finding out the accurate answer from the above options.

   Related Questions in Microeconomics

  • Q : Firms demand for labor Assume that the

    Assume that the international auto industry has become monopolistically competitive and you run a small automaker. The events which would not directly influence your firm’s demand for labor comprise: (i) Sales of your company’s most admired car unexpectedl

    		•
  • Q : Firm under perfect competition The firm

    The firm beneath perfect competition is a price taker by the reasons shown below:A) Number of firms: The number of firms beneath perfect competition is so big that no individual firm by changing sale, can cause an

    		•
  • Q : Least probable resource for supply curve

    The resource least probable to conform to the supply curve demonstrated in this figure would be: (w) land. (x) capital. (y) labor. (z) entrepreneurship.

    Q : Profit margins Examine within your

    Examine within your answer the circumstances that will enable a company to pass on cost increases to customers and protect profit margins. For example- price sensitivity of demand, rising food prices, cotton prices, etc.

    		•
  • Q : Technological innovations and demands

    Pharmaceutical companies have currently developed and tested drugs which reverse the affects of alcohol upon the brain only in a half hour. Such pills allow drivers to sober up before driving and to decrease the severity of hangovers. Within the past few years, variou

    		•
  • Q : Resource prices Refer to the following

    Refer to the following diagrams, in which AD1 and AS1 are the "before" curves and AD2 and AS2 are the "after" curves. Other things equal, a decrease in resource prices is depicted by:1) panel (A) only. 2) panel (B) only. 3)

    		•
  • Q : Economic good becomes an economic bad

    Economic good becomes an economic bad whenever consumption is expanded into an area where: (1) Marginal returns are reducing. (2) Sellers experience an honest hazard. (3) Marginal utility is negative. (4) Buyers suffer from unfavorable choice. (5) Exc

    		•
  • Q : Definition of Collective Bargaining The

    The procedure in which employers and unions agree to labor contracts which govern work arrangements is termed as: (i) Arbitration. (ii) Codependency. (iii) Bilateral monopoly. (iv) Joint profit maximization. (v) Collective bargaining.

    Q : Words of Joseph A. Schumpeter about

    According to Joseph A. Schumpeter as: (1) refined and popularized the idea that profits derive by innovation. (2) perceived profits as rewards for bearing uncertainty. (3) believed which monopoly firms are so inefficient which none fully realize their

    		•
  • Q : Determine Income Floor A marginal tax

    A marginal tax rate of 40% and an income floor of __________ give in a break-even level of income of $12,000 is: (1) $30,000 (2) $4,800 (3) $7,200 (4) $3,000 (5) $16,800 Hey friend

    		•