If many more home sellers and builders have become more eager to sell their homes, we would expect to see:
a. an increase in equilibrium price and an increase in equilibrium quantity of homes sold.
b. an increase in equilibrium price and a decrease in equilibrium quantity of homes sold.
c. a decrease in equilibrium price and an increase in equilibrium quantity of homes sold.
d. a decrease in equilibrium price and a decrease in equilibrium quantity of homes sold.
c
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Using the information in the table shown, if you were to graph the first two columns, you would have graphed which curve?
This table represents the revenues faced by a monopolist.
A. Marginal revenue
B. Market supply
C. Market demand
D. Total productivity
Which of the following is true about location rents? a. They are illegal in many inner-city locations. b. They are found by taking the shaded area below the transport cost curve. c. They arise from differential costs in transporting food to the marketplace. d. They arise when the MRP is lower than the cost of transporting food to the marketplace
e. They would not exist if all land were of similar quality.
Usury laws are a form of price _____ and rent control is a form of price _____.
A. floor; floor B. ceiling; ceiling C. ceiling; floor D. floor; ceiling
Maria wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $2.50 per gallon, the car wash costs $2, but if she buys 10 gallons of gasoline, the car wash is free. For Maria, the marginal cost of the tenth gallon of gasoline is
A) $2.50. B) zero. C) $2.00. D) 50 cents.