Which of the following is not likely to change the supply of laptops?
A. An increase in consumers' incomes
B. A decrease in the wage paid to electrical engineers
C. A technological breakthrough that makes it much less costly to produce computer chips
D. An increase in taxes on computer chips paid by producers
Answer: A
You might also like to view...
Which of the following is true?
i. A price ceiling set below the equilibrium price decreases search activity. ii. A minimum wage is an example of a price ceiling. iii. A price support decreases the quantity consumed. A) only i B) only ii C) only iii D) i and iii E) ii and iii
Which of the following is NOT a component of the incomes approach to GDP?
A) net exports B) wages and salaries C) corporate profits D) proprietors' income
Diseconomies of scale are illustrated graphically by an upward shift of the firm's long-run average cost curve
Indicate whether the statement is true or false
Use the above figure. The total revenue earned by this monopolistically competitive firm is
A) $2,560. B) $1,600. C) $480. D) $1,900.