An increase in the price of a product

A. increases productivity.
B. automatically increases wages.
C. would probably decrease total revenues.
D. raises the firm's demand for labor.


Answer: D

Economics

You might also like to view...

Which of the following factors is likely to lead to an increase in the quantity demanded of pens?

A) A fall in the price of paper B) A fall in the incomes of all consumers C) A rise in the incomes of all consumers D) A fall in the price of pens

Economics

Information facilitates exchange by fostering competition

Indicate whether the statement is true or false

Economics

A (very, very small) country produces milk and shirts and its production possibilities frontier is in the table above

a. The nation is currently producing at point B. What is the opportunity cost of two additional gallons of milk? At point C? At point D? What do your results show? b. Suppose the nation is initially producing 4 gallons of milk and 40 shirts. What is the opportunity cost of 2 additional gallons of milk? Explain your answer.

Economics

When the unemployment rate _________ the natural unemployment rate, real GDP is _________ potential GDP and the output gap is _________

A. exceeds; below; negative B. is below; below; negative C. exceeds; above; positive D. is below; above; negative

Economics