Refer to the above figure. Corn is an input for producing Corn Flakes. Which diagram shows the effect on the supply of Corn Flakes when the price of corn has increased?
A) graph C
B) graph D
C) neither graph
D) both graphs
B
You might also like to view...
Everything else held constant, an increase in wealth will cause the holdings of checkable deposits to the holdings of currency to ________ and the currency ratio will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Income that is received as wages and is not adjusted for inflation is called
What will be an ideal response?
Suppose a government tax cut increases disposable income. If there is no change in the government deficit or surplus, what effect would this tax cut have on the supply of loanable funds and the demand for loanable funds? What will happen to the real
interest rate?
One should expect ________ relationship between annual per-capita GDP and an inverse index of corruption
A) a weak and negative B) a weak and positive C) a strong and negative D) a strong and positive E) an unpredictable