How does a change in quantity supplied differ from a change in supply?
A) A change in quantity supplied shifts the supply curve; a change in supply is a movement along the curve.
B) A change in one of the ceteris paribus conditions affects quantity supplied, not supply.
C) A change in the price affects quantity supplied, not supply.
D) There is no difference.
Answer: C
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The federal government has major assistance programs aimed at providing all of the following goods, except one. Which is the exception?
a. housing b. energy c. school lunches d. clothing e. food
If an industry currently dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues, with the remaining two firms each representing 5%, then one of the large firms merged with one of the small ones, what would be the new four firm concentration ratio and the new Herfindahl-Hirschman Index for this industry?
a. 100%; 3,050 b. 100%; 2,750 c. 95%; 3,050 d. 95% 2,750
Suppose the consumption function is C = $200 + 0.85YD. If disposable income is $400, consumption is
A. $540. B. $340. C. $200. D. $185.
Summarize the main research conclusions found by prominent economists on the economic effects of immigration
What will be an ideal response?