In the supply curve, the relationship between price and quantity supplied is
a. inverse.
b direct.
c. nonexistent.
d. not determined.
b direct.
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In general, a fine on selling a product leads to the
A) supply curve shifting rightward. B) supply curve shifting leftward. C) demand curve shifting rightward. D) demand curve shifting leftward.
If MPPa/Pa> MPPb/Pb, then the proportions of these two inputs is optimal.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 1.5 below to answer the question(s) that follow.
Figure 1.5Refer to Figure 1.5. Panel B shows a curve with a slope that is
A. negative and decreasing. B. positive and decreasing. C. negative and increasing. D. positive and increasing.
Refer to the information provided in Figure 4.4 below to answer the question(s) that follow.
Figure 4.4Refer to Figure 4.4. At the world price of $125 per barrel of oil, the United States imports ________ million barrels of oil per day.
A. 4 B. 6 C. 8 D. 10