Supply shift to the right=
What will be an ideal response?
price goes down, quantity goes up
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Panel A shows a change in quantity demanded and Panel B shows a change in demand.
Indicate whether the statement is true or false.
An investment opportunity has two possible outcomes, and the value of the investment opportunity is $250. One outcome yields a $100 payoff and has a probability of 0.25. What is the probability of the other outcome?
A) 0 B) 0.25 C) 0.5 D) 0.75 E) 1.0
If the opportunity cost of producing one more bushel of wheat is always equal to three bushels of corn, then the production possibilities curve will be
a. upward sloping b. bowed out c. U-shaped d. a straight line e. undefined
Refer to the graph below. At which point does marginal product (MP) equal average product (AP) at a level of output?
A. Point A
B. Point B
C. Point C
D. Point D