What will happen in the market for shotgun-shell ammunition now if buyers expect higher shotgun-shell prices in the near future?
a. The demand for shotgun-shell ammunition will increase.
b. The demand for shotgun-shell ammunition will decrease.
c. The demand for shotgun-shell ammunition will be unaffected.
d. The supply of shotgun-shell ammunition will increase.
a
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Claudia's Copy Shop is deciding which 3-D printer to purchase, and it only has room for one printer
It can purchase the "Mini-Me" small-object printer, which would generate benefits of $50,000 at a cost of $5,000, or it can purchase the "Gargantuan" large-object printer which would generate benefits of $250,000 at a cost of $25,000. Based on these numbers, Claudia's Copy Shop should purchase A) the "Mini-Me" printer. B) the "Gargantuan" printer. C) either printer, since the cost of each is exactly 10 percent of the benefit from each. D) neither printer, since the cost of each is too high for a 3-D printer.
Refer to Figure 2-13. Which two arrows in the diagram depict the following transaction: Lizzie Haxem hires "The Paint Pros," a professional painting company, to paint her home
A) J and G B) K and M C) K and G D) J and M
Suppose that consumer income decreases and that hamburger is an inferior good. Which of the following will occur in the market for hamburger?
A) Market clearing price will rise, and equilibrium quantity will rise. B) Market clearing price will fall, and equilibrium quantity will fall. C) Market clearing price will rise, and equilibrium quantity will fall. D) Market clearing price will fall, and equilibrium quantity will rise.
Which of the following methods did the government adopt in order to keep agricultural prices from falling too low?
a. reliance on free-market equilibrium b. soil bank programs c. land purchase subsidies d. mortgage relief e. price ceilings