Factors that cause the short-run supply curve to change are factors that affect
A. demand.
B. the market but not the individual firm.
C. fixed costs.
D. variable costs.
Answer: D
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In the above figure, if there is a negative relationship between the variables x and y, which of the graphs above can be used to indicate this?
A) Figure A B) Figure B C) Figure C D) both Figure A and Figure C
Which of the following would be an example of capital formation?
A. The purchase of government bonds B. An initial public offering by a technology company C. The acquisition of a domestic company by a foreign country D. The expansion of a grocery store into a rural area
If the price of a 32GB memory card decreases from $25 to $20, the percentage change using the average value (or the midpoint) is:
A. -22.2% B. -20 percent. C. -25% D. -5%
Which of the following will shift the short-run industry supply curve of a perfectly competitive industry?
A. an increase in consumer income B. an increase in demand for the product C. an increase in the price of the product D. a decrease in the price of an input