An increase in the number of tomato producers will
a. increase market supply because the price of tomatoes will rise
b. increase market supply because market demand will increase as more tomatoes areproduced
c. increase market supply because market supply is the sum of all individual tomato producers' supply curves
d. increase market demand but leave market supply unchanged
e. increase the price of tomatoes
C
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The use of an absorption instrument allows a government to
A) increase or decrease national absorption. B) change the balance between imports and exports. C) alter the balance of payments with a specific country. D) reduce the influence of domestic absorption on exchange rates.
Matt is offered a job driving the campus shuttle bus from 4 p.m. to 6 p.m. each Monday. His reservation wage for this job is $7 per hour. Now suppose the director offers Matt $50 per hour, but also announces that Matt's earnings will be divided equally among Matt and the 99 other students who live in Matt's dorm. What will be Matt's economic surplus from accepting the job?
A. -$6.00 per hour B. -$6.50 per hour C. $0.50 per hour D. $1.00 per hour
Developing countries (DVCs) can be subdivided into the following groups, except:
A. Low-income economies B. High-income economies C. Lower-middle-income economies D. Upper-middle-income economies
In the market for a foreign currency, a "strengthening" of the dollar corresponds to a
A. smaller supply of the foreign currency. B. lower dollar price of foreign currency. C. larger demand for the foreign currency. D. higher dollar price of foreign currency.