Assume the market is in equilibrium in the graph shown at demand D and supply S2. If the supply curve shifts to S1, and a new equilibrium is reached, which of the following is true?
A. Producer surplus would increase, and total surplus would increase.
B. Producer surplus would decrease, and total surplus would increase.
C. Producer surplus would increase, and total surplus would decrease.
D. Producer surplus would decrease, and total surplus would decrease.
D. Producer surplus would decrease, and total surplus would decrease.
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Any point on the lowest indifference curve is preferable to a point on a higher indifference curve.
Answer the following statement true (T) or false (F)
A learning curve relates ________ to ________ and is a case of ________ returns
A) unit cost; cumulative production; dynamic increasing returns B) output per time period; long-run marginal cost; dynamic increasing returns C) unit cost; cumulative production; dynamic decreasing returns D) output per time period; long-run marginal cost; dynamic decreasing returns E) labor productivity; education; increasing marginal returns
What is the standard deviation of the payoff from an investment that yields $1,000,000 with a probability of 0.001 and $0 with a probability of 0.999?
A. $998,001,000 B. $999,000 C. $316.07 D. $31,606.96
Use the supply and demand model to explain why the salaries of nurses in increasing?
a. Demand has increased while supply also increased. b. Demand has increased while supply decreased. c. Demand has decreased while supply decreased. d. Demand has decreased while supply increased.