The slope of a straight line
A. is constant.
B. is not constant.
C. must first increase then decrease.
D. is always positive.
Answer: A
You might also like to view...
Producer surplus
A. is the difference between the minimum price producers are willing to accept for a product and the higher equilibrium price. B. is the difference between the maximum price consumers are willing to pay for a product and the lower equilibrium price. C. rises as equilibrium price falls. D. is the difference between the maximum price consumers are willing to pay for a product and the minimum price producers are willing to accept.
Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames is highly elastic. A tax of $1 per frame levied on picture frames will increase the price paid by buyers of picture frames by
a. less than $0.50. b. $0.50. c. between $0.50 and $1. d. $1.
Figure 18-2
Figure 18-2 shows the widget market before and after an excise tax is imposed. The tax per widget equals ____.
A. $5 B. $20 C. $25 D. $30
Input prices rise as entry occurs in an constant-cost industry.
Answer the following statement true (T) or false (F)