In September, buyers of silver expect that the price of silver will rise in October. What happens in the silver market in September, holding all else constant?
A) The demand curve shifts to the right. B) The quantity demanded increases.
C) The quantity demanded decreases. D) The demand curve shifts to the left.
A
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The United States uses a single payer model of healthcare in which the government pays for all healthcare. Because a single payer model of health care creates no deadweight loss, most economists agree that the U.S. system of health care is efficient
A) Both sentences are false. B) The first sentence is false; the second sentence is correct. C) The first sentence is correct; the second sentence is false. D) Both sentences are correct.
One barrier to entry that may maintain an oligopoly is
a. government policy designed to limit foreign competition b. a low minimum efficient scale c. bounded markup pricing d. efficiency wages that make it impossible for new entrants to compete profitably e. executive payoffs
Taking into consideration indirect stock ownership in the United States, we can conclude that
a. stock ownership is on the decline b. the majority of the population are stockholders c. all businesses are in fact corporations d. too much cheating is going on in the stock market e. we should change the laws so that pension funds can buy stocks
A firm estimates that when output is 10, its total costs are $900 . It also finds that when output is 11, its total costs are $920 . The marginal cost of the eleventh unit of output is
a. $1 b. $20 c. $90 d. $900 e. $920