A change in the productivity of inputs used to produce a good affects supply because Question 28 options:
A. what is considered to be a substitute or complement in production changes.
B. quality of the product changes and so consumers change their demand for the good.
C. the number of sellers changes.
D. it increases the number of sellers.
E. the costs of production change.
E. the costs of production change.
You might also like to view...
In the above table, the level of autonomous consumption is
A) $9,000. B) $0. C) $5,000. D) $1,000.
The federal funds market refers to the market where:
A) the Fed obtains loans of reserves from central banks of other nations. B) the federal government borrows overnight funds from the Fed. C) banks obtain loans of reserves from each other. D) there are no predetermined rates of interest on loans and the highest bidding borrower gets the loan.
With time, an appreciation in the value of the nation's currency in the foreign exchange market would cause
a. the nation's imports to increase and exports to decline. b. the nation's exports to increase and imports to decline. c. both imports and exports to decline. d. both imports and exports to rise.
Suppose that Dillon derives 40 utils of total utility from eating 5 hotdogs and 42 utils of total utility from eating 6 hotdogs. What is Dillon's marginal utility from eating the 6th hotdog?
A) 2 B) 6 C) 7 D) 6.67