Assuming supply is a straight line and intersects the y axis, the equation of the inverse supply curve is represented as

A. P + Qs = c + d.
B. P = c - dQs.
C. P = c + dQs.
D. Q = c - bPs.


Answer: C

Economics

You might also like to view...

A low P/E ratio of a stock means that the company issuing the stock is heading to trouble in the near future

a. True b. False Indicate whether the statement is true or false

Economics

Briefly describe the business practice of tying

Economics

If there is a 5 percent increase in the CPI, then there will most likely be

A) a more than 5 percent rise in the cost of living because of the introduction of new goods. B) a 5 percent rise in the cost of living. C) a less than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. D) a more than 5 percent rise in the cost of living because of consumers substituting away from goods whose relative prices rise towards other goods. E) a less than 5 percent rise in the cost of living because of falling quality of goods over time.

Economics

The price of soybeans is $17 a bushel. To maximize profits, a competitive firm selling soybeans must

a. produce soybeans up to the point at which average variable cost equals $17. b. adjust production until the marginal cost of soybeans is $17. c. produce all the soybeans it can. d. produce soybeans up to the point at which fixed costs are minimized and variable costs are increasing.

Economics