In 2014, the price of peanuts increased. In the market for peanut butter, this change led to ________ and which therefore ________ the price of peanut butter and ________ the quantity of peanut butter
A) a decrease in the supply; increased; decreased
B) an increase in supply; decreased; increased
C) a decrease in demand; decreased; decreased
D) an increase in demand; increased; increased
A
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In the textbook model of endogenous growth, the production function is modeled as
A) Y = AK. B) Y = C + I + G + NX. C) Y = X. D) Y = S - I.
Plurality voting ___________ the ideal voting-system criteria.
A. meets all B. fails one of C. fails two of D. fails all of
For a monopsonist, the supply of labor facing the firm is
a. an insignificant portion of the labor market's supply b. perfectly horizontal c. downward sloping d. the summation of each firm's demand for labor e. identical to the supply curve facing the labor market for the industry
If a supply curve goes through the point P = $10 and Qs = 320, then
A. $10 is the highest price that will induce firms to supply 320 units. B. at a price higher than $10 there will be a surplus. C. at a price lower than $10 there will be a shortage. D. $10 is the lowest price that will induce firms to supply 320 units. E. both c and d