Refer to the above figure. Suppose that the supply curve shifts from SA to SB while the demand curve remains at DA. Which of the following is TRUE?
A) Only quantity supplied has increased.
B) Only quantity demanded has decreased.
C) Supply has increased.
D) Supply has decreased.
C
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What unethical methods might business communicators be tempted to use to make their case stronger?
a. Ignoring "What if?" questions b. Fudging the facts c. Omitting crucial information d. Exaggerating the point e. Gaining attention with a compliment
As the case study in the text illustrates, individual firms in the potato industry have a great deal of market power
Indicate whether the statement is true or false
An example of a good that creates a positive network externality is:
A. the telephone. B. social network websites (e.g. Facebook). C. a workers’ union. D. All of these are examples of good that create positive network externalities.
When a tax is levied on a good,
a. government revenues exceed the loss in total welfare. b. there is a decrease in the quantity of the good bought and sold in the market. c. the price that sellers receive exceeds the price that buyers pay. d. All of the above are correct.