An increase in the demand for GM automobiles results in:
A. a lower equilibrium price for GM automobiles.
B. an increase in the supply of GM automobiles.
C. a lower equilibrium quantity of GM automobiles.
D. an increase in the quantity supplied of GM automobiles.
Answer: D
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The official poverty level is based on
A) total net worth. B) pretax income, and includes cash subsidies but does not include in-kind subsidies such as food stamps. C) after-tax income, and includes both cash and in-kind government subsidies. D) wages and salaries, plus any unreported amounts of income from the underground economy.
If a theatre company expects $250,000 in ticket revenue from five performances and $288,000 in ticket revenue if it adds a sixth performance, the
A) marginal revenue of the sixth performance is $288,000. B) marginal revenue of the sixth performance is $38,000. C) cost of staging the sixth performance is probably higher than the cost of staging the previous five. D) company will be making a loss on the sixth performance because its ticket sales will be less than the average revenue received from the previous five.
Refer to the table below. The profit-maximizing price for the monopolist will be:
Answer the question below on the basis of the following demand and cost data for a pure monopolist.
A. $2.50
B. $2.25
C. $2.00
D. $1.75
A move from E to F represents
A. an increase in quantity demanded.
B. a decrease in quantity demanded.
C. an increase in demand.
D. a decrease in demand.