The supply curve shows the relationship between the
A) cost of production and the price of the product.
B) cost of resources and cost of production.
C) price of the product and quantity supplied.
D) quantity demanded and the quantity supplied.
C
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Suppose output is $35 billion, government purchases are $10 billion, consumption is $15 billion, and net exports are $4 billion. Assume net factor payments equal 0
(a) Calculate the equilibrium amount of investment. Show your work. (b) Calculate the equilibrium amount of absorption. Show your work. (c) Calculate the equilibrium amount of the financial account balance. Show your work.
Collective decision making costs _____
a. decrease as we get closer to unanimity b. increase as more people have to agree c. are an impediment to individual action d. are the reason why simple majority rule is always optimal
Which of the following will not cause a demand curve to shift position?
a. A doubling of the good's price. b. A doubling of the price of a closely substitutable good. c. A doubling of income. d. A shift in preferences. e. A doubling of both the price of X and the price of Y.
Positive Economics
What will be an ideal response?