Refer to the diagram. An increase in quantity supplied is depicted by a
What will be an ideal response?
move from point y to point x.
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Game theory provides tools that are used to model:
A. the cost functions faced by firms. B. consumer demand. C. strategic interdependencies. D. the behavior of perfectly competitive firms.
Diversification of a portfolio leads to:
a. a negative correlation between the investments. b. a lower mean of returns. c. a lower variance of returns. d. a higher standard deviation of returns.
Economists call the pursuit of a transfer of wealth through government at someone else's expense:
A. the paradox of voting. B. adverse selection. C. rent-seeking behavior. D. the benefits-received principle.
If a firm's long-run average total curve shows that it can produce 5,000 DVDs at an average cost of $2.00 and 15,000 DVDs at an average cost of $1.50, this is evidence of
A) diminishing returns. B) economies of scale. C) diseconomies of scale. D) the law of supply.