Olive oil producers want to sell more olive oil at a higher price. Which of the following events would have this effect?
A) an increase in the price of land used to plant olive trees
B) an increase in the price of olive oil presses
C) research finds that consumption of olive oil reduces the risk of heart disease
D) a decrease in the cost of transporting olive oil to markets
C
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If a firm faces a downward-sloping demand curve
A) it will always make a profit. B) the demand for its product must be inelastic. C) it can control both price and quantity sold. D) it must reduce its price to sell more units.
When the interest rate falls,
a. the opportunity cost of holding money rises b. people shift out of holding interest-yielding asset holdings into holding money c. the quantity of money people will hold decreases d. investment spending decreases e. real GDP will decrease
Which of the following conveys the correct relationship between production and inventories?
A. If planned inventories > actual inventories then reduce production. B. There is not clear relationship between inventories and production. C. If planned inventories < actual inventories then decrease production. D. If planned inventories > actual inventories then increase production.
In an open economy, this country will ________ million bushels of corn.
A. import 150 B. import 600 C. export 600 D. export 300