A graph shows the price of a pound of cucumbers on the vertical axis and the quantity of new cars sold by Honda on the horizontal axis. The price of a pound of cucumbers remains constant as the quantity of new cars sold increases
The graph of these data is a
A) vertical line.
B) positively sloped line.
C) curve with a maximum.
D) negatively sloped line.
E) horizontal line.
E
You might also like to view...
A meditation class meets on the second floor of a building; the first floor is a nightclub. The loud music from the club disturbs the classes. The club could be soundproofed for a cost of $5,000 or move at a cost of $8,000 . The class can't soundproof enough to overcome the music, but could be moved for $4,000 . According to Coase,
a. the club should be soundproofed so both businesses can stay open b. the club should be soundproofed because it is the one generating the externality c. the club should move rather than be soundproofed because eliminating an externality is better than compensating for it d. the class should move because it can eliminate the externality at a lower cost than can the nightclub e. whichever business has been there longer has the overriding property right; the other should adjust
A technological change that enables a student to learn more French in the same amount of study time
a. causes the budget line to rotate inward b. causes an outward, parallel shift of the budget line c. shifts the "demand curve" inward d. is equivalent to a increase in the "price" of an hour spent studying French e. makes the student better off
An excess demand in a market implies that
a. the amount demanded is less than the amount supplied b. price is greater than the equilibrium price c. a shortage of the good exists d. a surplus of the good exists e. the government must implement a price ceiling
The law of increasing opportunity cost helps to explain why PPF's are typically bowed-outward
Indicate whether the statement is true or false