A direct or positive relationship between price and quantity supplied is
A. a change in demand.
B. a demand curve.
C. a supply curve.
D. the market clearing price.
Answer: C
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Deadweight costs of tariffs equal the sum of net changes in consumer and producer surplus brought about by the tariff
Indicate whether the statement is true or false
If a firm decreases production, then its:
A. variable costs rise. B. fixed costs stay the same. C. total costs increase. D. All of these are true.
Diseconomies of scale are present when the long run average total cost of production declines as output expands
a. True b. False Indicate whether the statement is true or false
Bonds are often referred to as fixed-income securities because:
A. of the set interest rate. B. they are much more commonly held by retirees. C. they adjust interest payments with the inflation rate. D. the price you pay for bonds is fixed.