The supply curve shifts to the right when a seller sells a good.
Answer the following statement true (T) or false (F)
False
The market supply curve is a summary of the supply intentions of all producers.
You might also like to view...
Refer to the scenario above. The opportunity cost of producing one pound of apples in Beta is:
A) 1/2 pounds of oranges. B) 15 pounds of oranges. C) 10 pounds of oranges. D) 2 pounds of oranges.
If a technological change lowers the wage of unskilled workers, it is an example of:
A) a skill-biased technological change. B) an unskilled-biased technological change. C) a preferential-biased technological change. D) a statistical-biased technological changes.
Which of the following is correct?
a. A horizontal line has an infinite slope, and a vertical line has a zero slope. b. A horizontal line has a slope of 1, and a vertical line has a slope of -1. c. A horizontal line has a zero slope, and a vertical line has an infinite slope. d. A horizontal line has a slope of -1, and a vertical line has a slope of 1.
If total utility increases when you consume more of a good, then marginal utility must also be increasing as consumption rises.
a. true b. false