Changing prices cause changes in the supply of a good and therefore result in movements along a given supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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How do labor unions influence wage rates?
What will be an ideal response?
Which of the following markets must clear if injections from the income-spending stream are to equal leakages from the stream?
a. The resource market b. The labor market c. The goods market d. The aggregate market e. The loanable funds market
Which organization is committed to lowering trade barriers?
a. the United Nations b. the World Bank c. the World Trade Organization d. the International Monetary Fund
A firm's fixed cost
a. does not vary with output. b. does not change between the short run and the long run. c. is generally a higher percentage of its total cost at high output quantities than at low output quantities. d. All of the above are true.