Which of the following is NOT true of a demand curve?
A. It reflects sellers' reservations prices.
B. It relates the price of an item to the quantity demanded of that item.
C. It has negative slope.
D. It shows the amount consumers want to buy at various prices.
Answer: A
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Refer to the figure above. The quota shown in the diagram equals
A) 200 units. B) 500 units. C) 1000 units. D) 1200 units.
What do the Monetarist and Keynesian economists claim was the main cause of the Great Depression?
(a) A contraction in supply (b) A downturn in demand (c) The falling federal deficit (d) All of the above
Mechanisms that manufacturers can use to deal with misaligned retailer incentives include
a. setting a minimum retail price b. allowing many retailers to sell the product in each market c. preventing retailers from compensating sales staff for demonstrating the product d. eliminate manufacturer staff that was demonstrating the product in stores
Exhibit 9-1 A monopolistic competitive firm
?
In the long run, the demand curve for the monopolistic competitive firm shown in Exhibit 9-1:
A. shifts leftward. B. remains the same. C. shifts rightward. D. becomes more inelastic.