Suppose the equilibrium quantity of ethanol has decreased. Which of the following could have caused this change?
A. an increase in quantity demanded
B. an increase in quantity supplied
C. a decrease in demand
D. an increase in supply
Answer: C
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A country's balance of payments accounts include all of the following EXCEPT the
A) military account. B) current account. C) capital and financial account. D) official settlements account.
If the market price in a competitive market is below the minimum of average variable cost, the firm will shut down
Indicate whether the statement is true or false
The rate-of-return regulated public utility has strong incentive to control cost
Indicate whether the statement is true or false
What is the profit maximizing condition for a vertically integrated firm?
A) Net marginal revenue equals the sum of the marginal costs of the intermediate inputs. B) Marginal revenue equals the marginal cost of the final output. C) Net marginal revenue equals the marginal cost of each intermediate good. D) The sum of net marginal revenues equals the marginal cost of the final output.