When a demand schedule is drawn as a graph,
A. price is measured on the vertical axis.
B. quantity is measured on the horizontal axis.
C. the resulting curve has a negative slope.
D. the other variables (besides price and quantity) are held constant.
E. All of these responses are correct.
Answer: E
You might also like to view...
Antitrust enforcement of vertical relationships is generally focused on
a. The dominant firm using horizontal contracts to extend market power to other levels of the supply chain b. Vertical contracts reducing the intensity of competition c. Vertical contracts that help consumers d. All of the above
In the long run, which of the following is likely to be a variable cost?
A. Wage costs but not costs for equipment. B. Rent, wages, and all other costs are variable in the long run. C. Factory rental but not wage costs. D. Interest payments on borrowed funds but not utilities.
Injections include
A. Consumer saving. B. Taxes. C. Business saving. D. Exports.
Refer to the information above. Which of the following represents the level of investment needed to maintain constant capital per effective worker (K/NA) in this economy?
A) .02K B) .03K C) .05K D) .10K E) .15K