An increase in the equilibrium price of electricity can be caused by
A. A decrease in the demand for electricity.
B. An increase in the supply of electricity.
C. An increase in the quantity demanded of electricity.
D. An increase in the demand for electricity.
Answer: D
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Predatory pricing occurs when a firm
a. exercises its oligopoly power by raising its price through the formation of a cartel. b. exercises its monopoly power by raising its price. c. cuts its prices in order make itself more competitive. d. cuts its prices temporarily in order to drive out any competition.
The above graph shows the demand and cost conditions facing a price-setting firm. What is the maximum amount of profit the firm can earn? a -$180
A. $120 B. -$80 C. $60 D. none of the above
Speculating in a position exposed to exchange-rate risk is the act of reducing or eliminating a net asset or net liability position in the foreign currency.
Answer the following statement true (T) or false (F)
An increase in the marginal factor cost of labor will
A. lead to an increase in the value of an additional worker. B. cause the value of the marginal product of labor to increase. C. lead to an increase in the quantity demanded of labor. D. induce a firm to hire fewer workers.