Refer to Figure 2-4. A movement from ________ is the result of advancements in plastic production technology
A) V to X B) Y to Z C) W to X D) Z to W
B
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Refer to Figure 15-10. What is the area that represents consumer surplus under a monopoly?
A) the triangle P0P2E B) the trapezium P1P2EF C) the rectangle P1P3HF D) the triangle P0P1F
The long-run aggregate supply curve (LRAS) is represented by a ________ curve with respect to the CPI
a. horizontal b. upward-sloping c. downward-sloping d. vertical
One of the broad categories that could cause the aggregate demand curves to shift is changes to the _________ of consumers or firms.
a. health b. behavior c. savings d. employment
If companies who took into account an externality want to supply more at any given price compared to the original supply, they must have addressed a:
A. network externality. B. social externality. C. positive externality. D. negative externality.