Which of the following will not cause a demand curve to shift position?
a. A doubling of the good's price
b. A doubling of the price of a closely substitutable good
c. A doubling of income
d. A shift in preferences
a
Economics
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When the cutthroat oligopolist raises their prices, their competitors will ___________.
Fill in the blank(s) with the appropriate word(s).
Economics
How did the price change in the long run when DSR shifted to DLR?
a. It fluctuated.
b. It remained constant.
c. It decreased.
d. It increased.
Economics
The profit-maximizing perfect competitor will produce at that output at which
A. marginal cost equals marginal revenue. B. total revenue is maximized. C. average total profit is maximized.
Economics
In the Solow model, if f(k) = 2k0.5, s = 0.25, n = 0.1, and d = 0.4, what is the value of k at equilibrium?
A. 1 B. 2 C. 3 D. 4
Economics