Exhibit 4-3 Supply and demand curves
In Exhibit 4-3, an increase in quantity supplied would cause a movement from which equilibrium point to another, other things being equal?
A. E1 to E2.
B. E1 to E4.
C. E4 to E1.
D. E3 to E4.
Answer: B
You might also like to view...
Which of the following is a possible justification for restricting trade? a. Restricting trade decreases domestic production
b. Restricting trade increases domestic unemployment. c. Restricting trade ensures lower domestic wages. d. Restricting trade protects domestic production.
Which of the following allows monopolistically competitive firms to differentiate their products from competitors in a market?
a. Licensing b. Forming cartels c. Advertising d. Patenting
The rational-ignorance effect is a result of
a. externalities that lead to an excess supply of information. b. the limited incentive of the news media to cover political campaigns. c. the expectation of individual voters that their vote will not be decisive. d. the lack of a college education on the part of most voters in the United States.
Antidumping duties cannot be levied when the harm to domestic industries is very small
Indicate whether the statement is true or false