Which is a determinant of supply?

a. Consumer income

b. Tastes and preferences

c. Production (resource) costs

d. Number of consumers


c. Production (resource) costs

Economics

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Use Figure 13.2 which depicts a monopolist firm to help with the following question. Why would this firm not find it profitable to produce more than Qm or less than Qm?

What will be an ideal response?

Economics

In the economic sense, almost everything is scarce. ________ of a good or service occurs when the quantity demanded is greater than the quantity supplied at the current market price

A) Scarcity B) A surplus C) An overstock D) A shortage

Economics

Rich country to poor country migration is relatively uncommon

Indicate whether the statement is true or false

Economics

Today 1 euro can be purchased for $1.10. This is the

A) spot exchange rate. B) forward exchange rate. C) fixed exchange rate. D) financial exchange rate.

Economics