Figure 10-18
As shown in , the economy's point of short-run equilibrium, given by the shift of the aggregate demand curve from AD1 to AD2, is
a.
E1.
b.
E2.
c.
E3.
d.
unable to be determined.
b
You might also like to view...
If the demand for orange juice is expressed as Q = 2000 - 500p, where Q is measured in gallons and p is measured in dollars, then at the price of $3, the demand curve
A) is elastic. B) has a unitary elasticity. C) is inelastic. D) is perfectly inelastic.
A research firm's findings concluded that the demand for movie tickets is price elastic in the afternoon but inelastic in the evenings. Given this information, to increase overall revenue the theatre owners should
a. Reduce the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows b. Increase the ticket prices for the afternoon shows and reduce the ticket prices for the evening shows c. Reduce the ticket prices for the afternoon shows and increase the ticket prices for the evening shows d. Increase the ticket prices for the afternoon shows and increase the ticket prices for the evening shows
Refer to Figure 7.4. If the market was a monopoly, the consumer surplus would be:
A. $625. B. $450. C. $300 D. $225.
If a prejudiced white employer behaves as if there is a disutility from hiring an African-American worker, then this disutility is measured by the:
A. Employment coefficient B. Discrimination coefficient C. Occupational coefficient D. Affirmative action coefficient