If the supply curve illustrates the quantities producers plan to sell at given prices, and the demand curve illustrates the quantities consumers plan to buy at given prices, then the plans of producers and consumers are fully coordinated at the point
where A) the supply curve lies above the demand curve.
B) the supply curve intersects the demand curve.
C) the demand curve lies above the supply curve.
D) the amount of a good needed by consumers exactly equals the amount supplied by producers.
B
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Is the Taylor rule compatible with a hierarchical mandate?
What will be an ideal response?
Both demand and supply curves usually have positive slopes
a. True b. False Indicate whether the statement is true or false
A consumer consumes two normal goods, sandwiches and milk. When the price of milk is $0.50 per glass, the consumer purchases 40 glasses. When the price rises to $0.65 per glass, the consumer purchases 30 glasses. We can use the information provided by the consumer's optimum choices to derive the
a. demand curve for milk. b. demand curve for sandwiches. c. supply curve for milk. d. labor-leisure tradeoff.
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year.Last year, Christine's explicit costs were ________, and her implicit costs were ________.
A. $51,000; $40,000 B. $18,000; $40,000 C. $36,000; $140,000 D. $15,000; $43,000