Refer to Figure 4-1. If the market price is $3.50, what is the maximum number of ice cream cones that Kendra will buy?
A) 1 B) 2 C) 3 D) 4
A
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If fast food is an inferior good then:
A. the demand for fast food will fall as income rises. B. the demand for fast food will fall as income falls. C. the quantity of fast food demanded will rise as the price of fast food rises. D. the demand for fast food will fall as the price of fast food rises.
The financial system:
A. brings together savers and borrowers in a set of interconnected markets where people trade a variety of financial products. B. connects the government to those truly in need of public services. C. is used to help individuals keep track of the general price level. D. gathers information about the economy in an effort to inform the public.
An upward-sloping supply curve shows that: a. buyers are willing to pay more for particularly scarce products
b. suppliers expand production as the product price falls. c. suppliers are willing to increase production of their goods if they receive higher prices for them. d. buyers are willing to buy more as the product price falls. e. buyers are not affected either directly or indirectly by the sellers' costs of production.
Use economic analysis to explain why tenants in New York City who are covered by rent-controlled laws do not want to move
Please provide the best answer for the statement.