Which of the following is not held constant when looking at an individual's demand curve?
a. income
b. price
c. preferences
d. the availability of alternative goods
b
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In the figure above, the firm's economic
A) loss will be greater than $30 per day. B) loss will be $30 or less per day. C) profit will be between $0 and $30 per day. D) profit will be greater than $30.01 per day.
In the foreign exchange market, a balance of payments surplus is represented by:
A) excess supply of dollars. B) excess demand for dollars. C) equilibrium in the foreign exchange market. D) none of the above.
Consumption spending includes
a. durable goods, nondurable goods, and housing b. durable goods, nondurable goods, and imports c. durable goods, services, and housing d. durable goods, nondurable goods, and services e. nondurable goods, services, and housing
In general, the cost of an input:
A. decreases when you've reached the point of diminishing marginal product in your firm. B. is minimized when you've reached the point of diminishing marginal product in your firm. C. stays the same when you've reached the point of diminishing marginal product in your firm. D. increases when you've reached the point of diminishing marginal product in your firm.