A change in demand for milk is caused by a change in the price of milk
Indicate whether the statement is true or false
F
You might also like to view...
Explain why an airline may decide to sell an air ticket to a stand-by passenger at less than the full fare if there are empty seats on the airplane?
What will be an ideal response?
A dominant-firm's residual demand curve is
A) the horizontal difference between the market demand curve and the supply curve of the fringe firms. B) the vertical difference between the market demand curve and the supply curve of the fringe firms. C) the demand curve left for the fringe firms after the dominant firm has determined an output level. D) None of the above.
A rightward shift of the Canadian demand curve for foreign exchange will
a. decrease the price of foreign exchange in Canada b. decrease the value of the Canadian dollar c. increase the value of the Canadian dollar d. make foreign goods less expensive in terms of Canadian dollars e. make Canadian goods more expensive in terms of foreign exchange
A monopolistically competitive firm is currently earning a positive economic profit. If other firms enter the market, we would expect that the added competition will cause this firm to adjust its output such that it
a. will operate closer to its efficient scale. b. will operate further from its efficient scale. c. will no longer be at its efficient scale. d. might move either closer to or further from its efficient scale.