Which of the following will shift the supply curve for laptop computers to the left?
A) development of a cheaper microchip used in laptop computer production
B) a subsidy to the laptop computer industry
C) expectations of a future decline in laptop computer prices
D) a reduction of the number of firms that make laptop computers
D
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With a monopoly, the consumer’s surplus is lower than it would be with a perfectly competitive industry.
Answer the following statement true (T) or false (F)
Make a list of expenditures whose sum equals GDP
For the Fed to fully eliminate the costs of inflation, how low does the inflation rate need to be?
a. 0 percent b. 3 percent c. 5 percent d. 6 percent
A firm whose production process exhibits constant returns to scale would find that if it doubled all of its inputs, its output would ________.
A. less than double B. remain constant C. more than double D. double