What would happen in the market for laser eye surgery if insurance companies started to cover a portion of the price of voluntary procedures?
A) Demand and supply will both increase.
B) Demand will increase, but this will not shift the supply curve.
C) Supply will increase, but this will not shift the demand curve.
D) Demand will increase and supply will decrease.
B
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Use the following table to answer the next question.Interest RateDemand for Money (billions)7%$200630054004500If the current interest rate is 5%, what will be the equilibrium interest rate if the money supply falls by $100 billion dollars?
A. 6% B. 5% C. 7% D. 4%
In the short run, if a perfectly competitive firm produced at the quantity of productive efficiency, would it generate the highest profit level possible? Why or why not?
The marginal revenue product of labor curve will always shift to the left if
A. product demand increases and product price increases. B. the price of capital falls. C. the wage rate falls. D. product demand decreases and product price decreases.
A good or service that is forgone by choosing one alternative over another is called a (an):
a. explicit cost. b. opportunity cost. c. historical cost. d. accounting cost.