A shift in the demand curve will occur when
A. suppliers place more goods on the market.
B. the price of a good rises.
C. consumers want to buy more or less than before at a given price.
D. the price of the good falls.
Answer: C
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What are the three main exchange rate systems, and how do they operate?
What will be an ideal response?
The optimal use of resources is achieved if
a. price = average total cost (ATC) b. price = marginal cost c. price = marginal revenue d. price = total cost e. price = total revenue
Let the TC curve be given by the equation TC(Q) = 10 + 5Q. The average variable cost can be expressed as
A. 10. B. 10 + (5/Q). C. (10/Q) + 5. D. It cannot be determined.
When money wages rise, the most significant effect on the aggregate supply curve is that it
A. shifts outward. B. shifts inward. C. becomes flatter. D. becomes steeper.