After 2009, the price of tablets fell each year and manufacturers of tablets produced and sold more tablets each year. This result is because the
A) "law of supply" does not apply to companies in the "high-tech" sector of the economy.
B) "law of demand" does not apply to customers in the "high-tech" sector of the economy.
C) supply curve of tablets shifted rightward.
D) demand curve for tablets shifted leftward.
C
You might also like to view...
In the above figure, if the price is $2, then the total consumer surplus is
A) triangle abc. B) triangle cef. C) trapezoid adec. D) trapezoid bdfc.
The study of health care provision in Delhi, India by Hammer and Das found:
A. doctors often worked at or beyond their knowledge frontier. B. doctors in public clinics were often more creative in diagnoses and care than doctors in private facilities. C. unless doctors were intrinsically motivated, no incentive exists for them to provide high quality care. D. the implementation of national healthcare provisions had strong associations with quality of care.
Assume South Korea and Vietnam have the same amount of resources. In a given time period, South Korea can produce 100,000 jackets or 1,000,000 shirts. Vietnam can produce 200,000 jackets or 2,000,000 shirts. This means that
A. South Korea has an absolute advantage in jackets. B. South Korea has a comparative advantage in jackets. C. Vietnam has an absolute advantage in both jackets and shirts. D. Vietnam has a comparative advantage in shirts.
Suppose John Smith pays $100 to Thomas Jefferson. What does this do to GDP?
A. We can say with certainty that the nominal GDP has increased, but we can't say whether real GDP has increased or decreased. B. We can say with certainty that the GDP has increased by $100. C. We need more information to determine whether GDP has changed. D. We can say with certainty that the GDP has increased, but we cannot determine the amount.