A ptomaine poisoning scare causes a decrease in the demand for canned tuna fish. Everything else equal, the demand curve for aluminum cans will
a. become steeper.
b. become flatter.
c. fall.
d. rise.
c
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Consumption patterns in the U.S. between 1790 and 1860 indicate a growing preference for
(a) basic necessities. (b) high quality clothes and homes. (c) simple, standardized and mass-produced goods. (d) luxury items.
Accountants and Economists differ in their calculations of profits in that;
a. economists consider sunk costs b. accountants consider implicit costs only c. accountants consider explicit costs only d. all of the above
The demand curve for a monopolistic competitor is likely to be steeper than that of a monopolist.
Answer the following statement true (T) or false (F)
Which of the following does NOT cause a shift in demand?
A. change in tastes B. change in the price of a related good C. change in the price of the good D. change in income