A decrease in the price level
a. increases the quantity of goods and services supplied in the short run.
b. decreases the quantity of goods and services supplied in the long run.
c. decreases the quantity of goods and services demanded.
d. increases the quantity of goods and services demanded.
d
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The portion of consumer surplus that would have existed in a perfectly competitive market but is unobtainable by anyone in society under a monopoly is known as
A) monopoly profits. B) an unattainable surplus. C) a deadweight loss. D) an external cost.
What is the opportunity cost of 1 ton of oranges for the nations of Argentina and Brazil, respectively?
A. .25 ton of apples and .5 ton of apples B. 10 tons of apples and 4 tons of apples C. .5 ton of apples and .25 ton of apples D. 4 tons of apples and 2 tons of apples
A company issued common stock for cash. Indicate which section, if any, the above transaction would appear in, or relate to, on a statement of cash flows.
A. Operating activities section B. Does not represent a cash flow C. Investing activities section D. Financing activities section
Which of these is the best explanation of diminishing returns for physical capital?
What will be an ideal response?