Which of the following will cause equilibrium output in a market to increase?
a. A decrease in firms’ variable costs.
b. An outward shift of the demand curve.
c. Entry of more firms into the market.
d. All of the above.
d. All of the above.
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When the price level rises from 110 to 115, the aggregate level of GDP supplied rises from $80 billion to $120 billion
This ________ relationship represents the ________ relationship between the quantity of real GDP firms are willing to supply and the price level. A) positive; short-run B) negative; short-run C) positive; long-run D) negative; long-run
Textbook publishers hope to maximize profits. Authors, however, face very different incentives. Authors are typically paid royalties, which are a specified percentage of total revenue from the sale of a book
And so, for example, if an author's contract says that she will receive 20 percent of the revenues from the sale of a text and the publisher's total revenues are $100,000, the author's royalties will be $20,000 . Who will prefer a higher price for the text, the publisher or the author?
The relationship between consumption and disposable income is the:
a. spending function. b. consumption function. c. autonomous consumption. d. household consumer spending e. household spending function.
The trend of shorter working days and longer vacations is expected to reversed in most wealthy countries in the future
a. True b. False