What change in this graph draws more firms into the market?
a. a shift from S1 to S2
b. a shift from P1 to P2
c. a shift from D2 to D1
d. a shift from Q2 to Q1
b. a shift from P1 to P2
You might also like to view...
The United States has developed a comparative advantage in film production due to the film industry being long-established in southern California, and lower costs result from the size of the industry in the area
This source of comparative advantage is referred to as A) external economies. B) best practices of unskilled labor. C) superior process technology. D) the abundance of natural resources.
The number of brands of identical products will most likely increase as
A) the number of informed consumers increases. B) the cost of producing many brands decreases. C) the number of uninformed consumers decreases. D) None of the above.
Matthew just graduated from culinary school. He can earn $40,000 a year working for the same local bakery he has worked at since before starting culinary school, or accept a job offer he received after graduation from a high-end restaurant paying $70,000 a year. The higher salary is a result of
a. a compensating differential. b. efficient union bargaining. c. having more human capital. d. pure luck.
If you earned $10-an-hour in 2005 when the CPI was 100, and you earn $11-an-hour today when the CPI is 120, then your real wage rate has _____ since 2005.
Fill in the blank(s) with the appropriate word(s).