The summer in Miami turned out to be warmer than usual, causing people to drink more colas. This can be represented by:
a. a rightward movement of the demand curve for colas.
b. a leftward movement of the demand curve for colas.
c. an upward movement along the demand curve for colas.
d. a downward movement along the demand curve for colas.
a
You might also like to view...
Which of the following is TRUE for a perfect price-discriminating monopoly?
A) P = MR for each unit sold B) P = ATC for each unit sold C) P = MC for each unit sold D) P > MC for each unit sold
To minimize total costs for a particular rate of output, a firm will equate
A) the average cost of each factor. B) the marginal revenue of each factor. C) the marginal physical product per dollar spent on each factor. D) the marginal revenue product and variable marginal revenue for each factor.
The government defines poverty as an income level less than four times the cost of a minimal diet
a. True b. False Indicate whether the statement is true or false
When economic profits are positive in a perfectly competitive industry,
a. we would expect the market supply curve to shift to the left as a result. b. we would expect the market supply curve to shift to the right as a result. c. we would not expect any change in the market supply curve to result. d. we would expect that the market demand curve to shift right as a result