Which of the following will not shift the demand curve for a good?
A) an increase in population
B) an increase in the price of the good
C) a decrease in the price of a substitute good
D) an increase in consumer incomes
Answer: B
You might also like to view...
Refer to Figure 2-1. Point B is
A) technically efficient. B) unattainable with current resources. C) inefficient in that not all resources are being used. D) the equilibrium output combination.
Economists develop models to
A) capture every detail of the real world. B) make their arguments more realistic. C) justify the assumptions they make about people's behavior. D) help us understand economic phenomena in the real world.
The basic attribute of monopolistic competition that is a strong counterforce to the "McDonaldization of America" as espoused by Karal Ann Marling is ______________________.
Fill in the blank(s) with the appropriate word(s).
The Herfindahl index is calculated by:
A. adding the percentage of industry output produced by the largest four firms. B. multiplying the squared value of the market shares of all the firms in the industry. C. adding the percentage of industry output produced by the largest eight firms. D. adding the squared value of the market shares of all the firms in the industry.