The budget line shift from ab to cd in the figure is consistent with:





A. decreases in the prices of both M and N.

B. an increase in the price of M and a decrease in the price of N.

C. a decrease in money income.

D. an increase in money income and decrease in the price of N.


B. an increase in the price of M and a decrease in the price of N.

Economics

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A hotel in New Hampshire charges $150 per room in the winter ski season and $90 during the summer months. The number of rooms and operating costs are constant year round. These prices indicate

a. a rightward shift in the demand in the summer. b. a rightward shift in demand in the winter. c. a leftward shift in the supply curve in the summer. d. a leftward shift in demand in the winter.

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Demand for Resources is _________

Fill in the blank(s) with the appropriate word(s).

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A company is selling wacky waving inflatable arm guys for very low prices, why is this?

a. there is a shortage b. there is a surplus c. the company cannot meet consumer demand d. equilibrium price has been reached

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