The budget line is a(n):
a. convex curve.
b. vertical line.
c. concave curve.
d. downward-sloping straight line.
e. upward-sloping straight line.
d
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Using the above figure, the efficient amount of paper produced is
A) 60 million tons. B) 80 million tons. C) 100 million tons. D) 120 million tons.
Which of the following is an accurate statement about an increasing-cost industry?
a. Input prices stay the same as an industry uses a large portion of the input. b. Input prices stay the same as an industry uses a small portion of the input. c. Input prices rise as an industry uses a large portion of the input. d. Input prices drop as an industry uses a large portion of the input
Samantha buys a bond in the amount of $1,000 with a promised interest rate of 18 percent. If the market interest rate decreases to 3 percent, Samantha can sell his bond for up to
A. $3,000. B. $2,000. C. $5,000. D. $6,000.
If the income of buyers increases and a company maintains the same price, what is the most likely impact on quantity sold? Explain. Draw a graphical display of the result.
What will be an ideal response?