Refer to the above table. The market quantity supplied when the price is $8 is
A. 0.
B. 29.
C. 38.
D. 20.
Answer: C
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In the figure above, if the firm is regulated using an average cost pricing rule, the economic loss created is equal to the area of
A) ABG. B) BEFG. C) BCFG. D) BCE. E) None of the above because there is no economic loss created.
In the macroeconomy, demand-side shifts change:
A. only the price level in the long run, while output eventually returns to its long-run potential level. B. only the output level in the long run, while prices eventually return to their long-run potential levels. C. aggregate demand only, which eventually shifts back in the long run. D. aggregate demand only, which is why the price level remains unaffected in the long run.
_____ are most likely to be upwardly mobile within the income distribution of a country
a. Single-earner families b. College graduates c. People who experience unemployment d. Non-college graduates e. Retired individuals
Any item that people can use to transfer purchasing power from the present to the future is called
a. a medium of exchange. b. a unit of account. c. a store of value. d. None of the above is correct.