A nonprice determinant of supply refers to something that:
A. affects supply other than the price.
B. affects the price other than supply.
C. determines how prices are affected by the seller's income.
D. determines how large a role prices play in the supply decision.
Answer: A
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a. beneficial opportunity cost. b. positive externality. c. out-resourcing benefit. d. managed-care opportunity benefit.
Antidumping duties increase overall economic well-being in a country by protecting the domestic import-competing firms.
Answer the following statement true (T) or false (F)
If the price of gasoline rises, buyers will probably
A. spend less on gasoline since the supply for gasoline is probably inelastic. B. spend less on gasoline since the demand for gasoline is probably elastic. C. spend more on gasoline since the supply for gasoline is probably elastic. D. spend more on gasoline since the demand for gasoline is probably inelastic.
One of the following projects has two IRRs. Which project is it?
