Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18 The market is initially in equilibrium at Point A. If demand shifts from D1 to D2, the equilibrium price will change from ________ and the equilibrium quantity will change from ________.
A. $3.00 to $4.00; 250 to 350
B. $4.00 to $3.00; 350 to 250
C. $4.00 to $3.00; 250 to 350
D. $3.00 to $4.00; 350 to 250
Answer: A
You might also like to view...
Automobile insurance companies insure both safe and unsafe drivers. Ideally they would like to be able to charge different premiums to each to reflect the cost differences in insuring both types of drivers
What type of economic problem is this and how might insurance companies deal with it?
Microeconomics is the branch of economics in which you study inflation and unemployment in the economy
a. True b. False Indicate whether the statement is true or false
How are normal goods and inferior goods similar? How are they different?
What will be an ideal response?
Jay Bhattacharya and M. Kate Bundorf of Stanford University have found evidence that people who are obese and work for firms that have employer-provided health insurance receive lower wages than people working at those firms who are not obese. At firms that do not provide health insurance, obese workers do not receive lower wages than workers who are not obese. Firms that provide workers with health insurance may pay a lower wage to obese workers than to workers who are not obese because the latter tend to be healthier and consequently
A) more productive at work B) less costly to insure and therefore employ due to their lower claim submission rate C) experience lower rates of absenteeism and early retirement D) all of the above E) A & B only