How can it be that people purchase more of a good while its price is rising?
A) The supply curve must be shifting to the left.
B) The demand curve must be shifting to the right.
C) Supply and demand do not change.
D) It cannot happen, otherwise the law of demand is violated.
B
You might also like to view...
If firms in a monopolistically competitive industry are making profits in the short run
A) some firms will ultimately exit the industry. B) barriers to entry will be erected to keep out rivals. C) new firms will enter the market. D) they will resort to advertising wars to help sustain these profits.
It is true of externalities that they
a. are always detrimental. b. are always beneficial. c. arise when all costs, social and private, are included in production cost. d. cause the price system to misallocate resources.
Describe what the unemployment rate and the employment rate measure. If we were to sum the unemployment rate and the employment rate, would that sum be equal to one hundred percent? Explain why or why not
Before the creation of the European Economic Community, there was the
A) European Economic Union. B) European Coal and Steel Community. C) European Union. D) European Free Trade Area.