Figure 4-5
If the suppliers of a good will sell any amount at $30 but there are no sales, then the market can best be represented by which graph in Figure 4-5?
a.
1
b.
2
c.
3
d.
4
d
You might also like to view...
Internal improvements are important to a developing and growing economy
Indicate whether the statement is true or false
If a monopolist raises its price
A) it raises the barriers to entry. B) the quantity demanded increases. C) the quantity demanded remains the same. D) the quantity demanded decreases.
The price of a gallon of gasoline was $2.01 in May 2004 compared to 39 cents in 1973 . However, the Consumer Price Index was 44.4 in 1973 compared to 189.1 in May 2004 (1980 - 1984 = 100). In terms of the purchasing power of the dollar in 2004, the 1973 price of gasoline was
a. $0.39. b. $0.44. c. $1.66. d. $2.15.
Suppose a permanent technological improvement raises labor's marginal productivity. Whether or not workers own capital, we can conclude that
a. the wage rate will rise. b. employment will fall. c. the supply of labor will rise. d. the demand for labor will fall.