A movement from one point of a demand curve to another is properly called a change in
A) demand.
B) quantity demanded.
C) tastes and preferences.
D) the availability of substitutes.
B
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When the price of a good falls, there will be
A) an outward shift in the good's demand curve. B) both an outward shift in the good's demand curve and a movement along the good's demand curve. C) a movement along the good's demand curve. D) no change in quantity demanded.
Elijah has just eaten his second popsicle. Using the concept of marginal utility, we can say:
A. the utility he will gain from his third will reduce his total utility. B. the utility he will gain from his third will not reduce his total utility. C. the utility he will gain from his third will be less than that of his second but will increase his total utility. D. the utility he will gain from his third will be less than that of his second and may reduce his total utility.
The price that sellers receive after the tax is imposed is
A. $6 B. $10 C. $16 D. $24
Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The dollar value to the coffee shop of hiring the fifth worker is ________ per hour.
A. $7.50 B. $5.00 C. $2.00 D. $1.50