Refer to the figure above. If the supply curve for flash drives shifts from S1 to S2, with no change in the demand curve, the new competitive equilibrium price is:
A) $3.
B) $4.
C) $5.
D) $7.
D
You might also like to view...
The most important source of funds for nonfinancial businesses is ________
A) financial intermediaries B) insurance companies C) hedge funds D) state and local governments
The Council of Economic Advisers' Economic Report of the President discusses recent developments in the economy and presents the council's analysis of current policy issues
a. True b. False Indicate whether the statement is true or false
Bank reserves divided by bank deposits is called:
A. the reserve/deposit ratio. B. fractional reserve banking. C. the asset/liability ratio. D. 100% reserve banking.
Taco Bell firm raises the price of its tacos. The price elasticity of demand for Taco Bell tacos equals 5.0. What happens to the Taco Bell's total revenue?
A) nothing B) It increases. C) It decreases. D) It becomes negative. E) It might change, but more information is needed to determine if it increases, decreases, or does not change.