Which of the following will cause the demand curve for gasoline to shift leftward?
a. a decrease in the price of gasoline
b. an increase in the price of gasoline
c. a leftward shift of the supply of gasoline
d. a rightward shift of the supply of cars
e. a decrease in the price of bicycles
E
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When a unit tax is placed on suppliers they are generally able to _____
a. lobby to get the tax repealed b. shift the tax payment to the demanders c. shift part of the tax burden to the demanders in the form of a secondary tax d. shift part of the tax burden to the demanders in the form of a higher price
Robert buys bonds. Rachel buys a new truck for her landscaping business. Identify both as savers, investors, both, or neither
In the three-step method for monopolistic competition, which of the following is accomplished in step 1?
a. finding the marginal revenue b. finding the total costs c. finding the total revenue d. finding the profit maximizing output level
The firm's short-run supply curve shows the relationship between the price of a good and the:
A. quantity demanded of that good. B. quantity supplied of that good. C. willingness of consumers to purchase the good. D. firm's capacity output.