Refer to the figure above. When the demand curve for flash drives is D and the supply curve of flash drives is S1, what is the shortage in the market if the price is $4?
A) 0 units
B) 10 units
C) 20 units
D) 40 units
D
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The Q-theory of investment is based on high investments being funded by high stock prices of a company
Indicate whether the statement is true or false
What are the implications for economic growth for countries specializing in consumer goods rather than capital goods? Assume the countries consume what they produce
What will be an ideal response?
High fuel prices and losses by smaller firms have resulted in a considerable amount of consolidation in the trucking industry, which now most closely resembles the oligopoly market structure
Indicate whether the statement is true or false
Which one of the following statements is most clearly inconsistent with the economic way of thinking?
a. "If you give a person a fish, you feed him for a day; if you teach him to fish, you feed him for life." b. "If the government provides a good free to citizens, then the opportunity cost of the good is zero." c. "If you derive the same satisfaction from a hamburger as a chicken sandwich, it makes sense to have the cheaper alternative for lunch." d. "When it is cheaper to have someone else mow your lawn than to mow it yourself, hiring someone to do the job is consistent with economizing behavior."