A consumer's budget line is very similar to a demand curve in that both curves show the possible combination of two goods.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Refer to Table 4-1. The table above lists the highest prices three consumers, Curly, Moe, and Larry, are willing to pay for a bottle of champagne. If the price of the champagne falls from $24 to $14
A) Larry and Moe will receive more consumer surplus than Curly. B) Curly will buy four bottles; Moe will buy two bottles, and Larry will buy one bottle. C) consumer surplus increases from $32 to $53. D) consumer surplus will increase from $80 to $95.
Resolution of dumping cases in the U.S. involve investigations by
A) the Justice Department and the International Trade Commission. B) the Justice and Commerce Departments. C) the Justice Department only. D) the Commerce Department and the International Trade Commission.
A corporation is owned by its
A) board of directors. B) stockholders. C) employees. D) CEO.
A vertical demand curve results in
A) no change in quantity when the supply curve shifts. B) no change in price when the supply curve shifts. C) no change in the supply curve being possible. D) no change in quantity when the demand curve shifts.