Assume the market for cage-free eggs is perfectly competitive. All else equal, as farmers find it less profitable to produce and sell cage-free eggs in this market
A) the supply curve will shift to the left and the equilibrium price will increase.
B) the supply curve will shift to the right, the demand curve will shift to the left, and the equilibrium price will decrease.
C) the demand curve will shift to the left and the equilibrium price will decrease.
D) the supply curve will shift to the left, the demand curve will shift to the left, and the equilibrium price will increase.
A
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There is "too much" steel production if the
A) social costs of steel production are significantly lower than the private costs. B) social benefits of steel production are declining. C) social costs of steel production are significantly higher than the private costs. D) social costs of steel production are declining.
Gains in railroad productivity were caused by:
a. more powerful locomotives. b. automatic couplers. c. air brakes. d. All of the above are correct. e. Only a and b are correct.
According to the text, success requires:
A) there is no secret formula that guarantees success. B) a visionary leader. C) a focus on quality. D) a customer-orientation. E) an emphasis on efficiency.
Which is an expansionary money policy?
a. Decrease the money supply to shift the aggregate demand curve leftward b. Increase the money supply to shift the aggregate demand curve leftward c. Increase the money supply to shift the aggregate supply curve leftward d. Increase the money supply to shift the aggregate demand curve rightward