If both the demand curve and the supply curve shift to the right, we can unambiguously conclude that the
A) market clearing price will increase.
B) market clearing price will decrease.
C) equilibrium quantity will increase.
D) equilibrium quantity will decrease.
C
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A safety measure whose benefits outweigh its costs is called a ________
Fill in the blank(s) with correct word
Most t-shirts bought by Americans are made in Asia. Producers in Asia making t-shirts trade with America because they
A) cannot produce enough t-shirts for their own domestic consumption. B) receive a higher price than they would receive from another buyer. C) cannot lower their price any lower and still make a profit. D) must export something to the United States. E) receive a lower price than they would receive from another buyer.
By 1916, there were 340,000 corporations in the U.S. The growth in the number of corporations was partly due to
a. increasing numbers of urban dwellers. b. the development of formal markets for stocks and bonds. c. the acceptance by most states of the doctrine of limited liability. d. mass production which led to lower per-unit costs for output. e. All of the above.
An increase in the number of producers will:
a. increase the market supply, because the price will rise. b. increase the market supply only when market demand increases too. c. increase the market supply, because market supply is the sum of all individual supply curves. d. increase the market supply only if each supplier has an identical supply curve. e. decrease the market supply, because firms compete with each other and each firm will supply more.