If a product?s demand increases as its supply simultaneously decreases, the marginal revenue product curve will
A. shift to the right.
B. remain unchanged.
C. shift to the left.
D. either shift to the left, shift to the right, or remain unchanged depending upon what happens to product price.
Answer: A
You might also like to view...
Suppose the current price of a pound of steak is $12 per pound and the equilibrium price is $9 per pound. In this case, there is a
A) surplus, so the price falls and quantity supplied increases. B) surplus, so the price rises and quantity demanded increases. C) shortage, so the price rises and quantity demanded decreases. D) shortage, so the price falls and quantity demanded increases. E) surplus, so the price falls and quantity demanded increases.
An inflation rate of 5% between 2015 and 2016 would be implied by a change in the GDP deflator from ________ in 2015 to ________ in 2016
A) 105; 115 B) 400; 420 C) 200; 205 D) 375; 390
An increase in the interest rate would induce people to
A) sell shares of stock and buy bonds, but would have no effect on their desire to hold money. B) get rid of all their money and buy stocks with it. C) sell their least liquid assets and hold more money in case interest rates go up again. D) hold a smaller fraction of their wealth in the form of money.
If, under a fixed exchange rate system, the dollar price of Mexican pesos is below its equilibrium level, then the
A) dollar is undervalued. B) peso is undervalued. C) dollar has depreciated. D) peso has appreciated. E) a and c