The quantity supplied of a good:
A) is inversely related to the price of the good.
B) is determined irrespective of the market price.
C) is always equal to the quantity demanded of the good.
D) is the amount of the good that sellers are ready to supply at a given price.
D
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The Acme Stereo Company had a capital stock of $24 million at the beginning of the year. At the end of the year, the firm had a capital stock of $20 million. Thus its
A) net investment was some amount but we need more information to determine the amount. B) net investment was $4 million for the year. C) gross investment was zero. D) net investment was -$4 million for the year.
Dan bought $10,000 of stocks in Orange, a fruit company. Gump invested $10,000 in a mutual fund that included Orange in its portfolio, while Bubba bought Orange's bonds worth $10,000 . If Orange makes a huge profit, which of the following would be true? a. Both Dan and Gump will make profits on their respective investments, while Bubba will suffer a loss. b. Gump will earn more profits on his
investment than either Dan or Bubba. c. Dan will earn more profits on his investment than either Gump or Bubba. d. All three will earn the same amount of profit since they each have invested the same amount.
When oligopoly firms collude to raise prices,
A. Each firm benefits, but society loses. B. Only the price leader benefits while other firms and society lose. C. Both the colluding firms and society benefit. D. Everyone is eventually a loser.
Suppose that supply increases and demand decreases. What is the most likely effect on price and quantity?
What will be an ideal response?