Studies have shown links between calcium consumption and a reduction in osteoporosis. How does this affect the market for calcium?
A) The calcium demand curve shifts to the right because of a change in tastes in favor of calcium.
B) The calcium supply curve shifts to the right because of a change in tastes in favor of calcium.
C) The calcium supply curve shifts to the left because this new information will increase the price of calcium.
D) The calcium demand curve shifts to the left because this new information will increase the price of calcium.
A
You might also like to view...
Suppose the market demand function for ice cream is Qd = 10 - 2P and the market supply function for ice cream is Qs = 4P - 2, both measured in millions of gallons of ice cream per year. Suppose the government imposes a $0.50 tax on each gallon of ice cream. The deadweight loss due to the tax is:
A. $944,444. B. $2.83 million. C. $1.67 million. D. $1.89 million.
Implicit costs are:
a. the opportunity costs of using resources owned by the entrepreneur in his/her own business. b. payments the business owner must make on borrowed funds. c. costs which vary as the level of output varies. d. those payments the business owner makes in cash. e. the payments the business owner makes for public relations, such as donations to charity.
In the short run, AFC is always greater than
a. ATC b. AVC c. MC d. Zero
What are the unintended consequences of raising minimum wage? Explain why these consequences would happen.
What will be an ideal response?