The supply curve slopes
A. upward to the right.
B. upward to the left.
C. downward to the right.
D. downward to the left.
A. upward to the right.
You might also like to view...
The figure above shows the competitive market for slices of key lime pie. If the production is 40 slices per day, someone is willing to buy another slice of pie for
A) more than it costs to produce the slice. B) less than it costs to produce the slice. C) an amount equal to the cost of producing the slice. D) an amount equal to the cost of producing all 40 slices. E) an amount that is not comparable to the cost of producing the slice.
If Eddie Li is a skilled worker employed in a low-skill job, he is
a. underemployed b. unemployed c. overemployed d. fully employed e. All the answers are correct
Which of the following is most likely to be a fixed input in the short run for Joe's Garage?
a. the grease used to lubricate cars b. the part-time labor employed to repair cars c. the inventory of replacement parts d. the electricity used to heat and light the garage e. the garage used to repair cars
Socialism in theory is an economic system in which:
A. the invisible hand insures that individual decisions are made for the common good. B. individuals are able to act in the best interest of everyone without direction from government or the invisible hand. C. government owns the means of production, but individual self-interest determines how production is organized. D. government sees to it that people work for the common good until they could be relied upon to do that on their own.