When quantity demanded decreases at every possible price, the demand curve
a. shifts to the left
b. shifts to the right.
c. there is a movement along the given demand curve.
d. none of the above.
a
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The money demand curve, against possible levels of interest rates, has a
A) negative slope. B) zero slope. C) positive slope. D) positive slope for low levels of money demand, and a negative slope for high levels of money demand.
Which of the following is a marginal decision, rather than an either-or decision?
a. whether to recommend a friend for a job at your workplace b. whether to ask for a promotion c. how much money to invest in your savings account d. whether to look for another job
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 in rented property, and $35,000 in interest costs on capital. The owner/manager does not choose to pay himself, but he could receive income of $90,000 by working elsewhere. The firm earns revenues of $360,000 per year. What are the annual explicit costs for the firm described above?
A. $160,000. B. $360,000. C. $450,000. D. $90,000.
Assume there are three hardware stores, each willing to sell one standard model hammer in a given time period. House Depot can offer their hammer for a minimum of $7. Lace Hardware can offer the hammer for a minimum of $10. Bob's Hardware store can offer the hammer at a minimum price of $13. Given the scenario described, if the market price of hammers increased from $6 to $8:
A. producer participation in the market would increase. B. producer participation in the market would remain unchanged. C. producer participation in the market would decrease. D. total producer surplus would increase by $2.