For the perfectly competitive broccoli producers in California, the market demand curve for broccoli is

A) a horizontal line.
B) downward sloping.
C) nonexistent.
D) upward sloping.
E) the same as the demand curve each firm faces.


B

Economics

You might also like to view...

Pollution is an example of a

A) negative externality B) positive externality. C) private cost. D) public good.

Economics

When regulators identify with the special interests of the industry they regulate, this behavior conforms with the

A) share-the-gains, share-the-pains hypothesis. B) rate-of-return hypothesis. C) lemon market hypothesis. D) capture hypothesis.

Economics

Economists usually do not favor subsidies on specific products or in-kind payments to help low income people. This is because

A. the poor person could have increased utility if the same money used to subsidize a product would be given to them to use as they choose. B. economists are individualists who believe that helping the needy makes them dependent. C. in-kind payments suggest that the poor person does not have an indifference curve pattern from which to make choices. D. a subsidy means that the recipient does not face a budget line anymore and therefore cannot maximize his welfare efficiently.

Economics

Which would not cause the supply curve to shift?

A) a change in technology B) a change in factor costs C) a change in the price of the good D) a change in the prices of related goods

Economics