Price change causes movement along supply curve, not shift in curve
a. true
b. false
a. true
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The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. This figure shows ________ relationship between the time spent studying and the GPA
A) a positive, linear B) a positive but not linear C) a cross-sectionally trended D) a negative E) no
Overall, government intervention in the financial system ________
A) is both essential and imperfect B) prevents adequate market solutions to market problems C) is continually improving and expanding D) is incompatible with an efficient allocation of resources
The infant industry argument for protectionism suggest that an industry must be protected in the early stages of its development so that: a. firms will be protected from subsidized foreign competition
b. domestic producers can attain the economies of scale to allow them to compete in world markets. c. there will be adequate supplies of crucial resources in case they are needed for national defense. d. domestic unemployment will be reduced.
Suppose quantity demanded is 2,000 when price is $10 and 3,000 when price is $5. If a monopolist who was initially charging a price of $10 discovers a way to price-discriminate, it will be able to increase revenue from $20,000 to:
A. $25,000 by charging consumers with less elastic demands only $5 and keeping the price for consumers with more elastic demands at $10. B. $35,000 by charging consumers with less elastic demands only $5 and keeping the price for consumers with more elastic demands at $10. C. $35,000 by charging consumers with more elastic demands only $5 and keeping the price for consumers with less elastic demands at $10. D. $25,000 by charging consumers with more elastic demands only $5 and keeping the price for consumers with less elastic demands at $10.