When individual supply curves shift, ceteris paribus, the market supply curve shifts.
Answer the following statement true (T) or false (F)
True
The market supply curve indicates the combined sales intentions of all market participants, so when one market participant changes, the market supply curve changes.
You might also like to view...
Structuralists believe the main cause of inflation is
a. rigidities in the economy's supply capabilities b. lack of sufficient aggregate demand c. weak position of labor unions d. government intervention in financial markets e. all of the above
Which of the following statements uses the economists' definition of money?
A) I plan to earn a lot of money over the summer. B) Betsy is rich—she has a lot of money. C) I hope that I have enough money to buy my lunch today. D) The job with New Company gave me the opportunity to earn more money.
Consider the production possibilities frontier in the figure shown. As more and more cigars are produced the opportunity cost of producing more cigars:
A. decreases.
B. stays the same.
C. increases.
D. decreases then increases.
Trade between nations A and B:
a. leaves the production possibilities of nation A unchanged. b. leaves the production possibilities of nation B unchanged. c. increases the consumption possibilities of both nations. d. All of these are true.