Any change that shifts the supply curve outward to the right, and does not affect the demand durve will lower the equilibrium price and raise the equilibrium
a. True
b. False
Indicate whether the statement is true or false
True
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For the following countries, specify whether hospitals are privately owned or owned by government, and whether doctors are privately employed or employed by government:
a. Canada b. Japan c. the United Kingdom d. the United States
The supply curve shows the
A) marginal benefit of a firm producing another unit of a good. B) dollars' worth of other goods and services we are willing to give up to get another unit of the good. C) minimum price that firms must receive to supply a certain quantity of a good. D) producer surplus of producing the good. E) maximum price that firms will accept in order to supply a certain quantity of a good.
What is the national security argument for restricting international trade? What is its flaw?
What will be an ideal response?
Given the table above, suppose consumption in period two is $40,000. Then, the interest rate rises to five percent, and period-two consumption does not change. We may infer that ________
A) the income effect is stronger than the substitution effect B) the substitution effect is stronger than the income effect C) the substitution and income effects cancel out D) this consumer has a binding borrowing constraint