Refer to Table 3-3. The table above shows the demand schedules for Kona coffee of two individuals (Luke and Ravi) and the rest of the market. At a price of $6, the quantity demanded in the market would be
A) 36 lbs. B) 68 lbs. C) 89 lbs. D) 123 lbs.
C
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Anthony's Accountants is the only employer of accountants in the island of Fairisle. The table gives the demand and supply of accountants on Fairisle. The marginal cost of hiring a sixth accountant is ________ an hour
A) $20 B) $15 C) $25 D) $45
If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) there has been a movement downwards along the supply curve for apples. D) the supply curve for apples has shifted to the left.
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $4; 6 B. $8; 6 C. $6; 4 D. $2; 8
Which of the following is a goal of supply-side policy?
A. A steeper slope for the Phillips curve. B. A movement along the Phillips curve. C. A leftward shift in the aggregate demand curve. D. A lower rate of inflation at every unemployment rate.