Refer to the above figure. At a price of two cents, the quantity of bubble gum demanded will be
A) 3.
B) 2.
C) 4.
D) 5.
C
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium consumption for this economy.
A. $3,350 B. $3,200 C. $3,000 D. $2,850
In the presence of asymmetric information, the only contract that results in production efficiency and no moral hazard is the one in which
A) the agent receives a fixed fee. B) the principal receives a fixed rent. C) profit is shared. D) revenue is shared.
If the average price of a car suddenly changes from $15,000 to $25,000, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) not likely; change B) likely; decrease C) likely; increase D) not likely; decrease
If a good is a normal good, an increase in income will
A) decrease the quantity demanded of the good. B) increase the demand for the good. C) cause the demand curve for the good to shift to the left. D) cause a movement down along the demand curve.