Figure 4-4
Given the demand and supply conditions shown in , if the government imposes a price ceiling of a, which of the following would be true?
a.
Consumers would want to buy r units.
b.
Consumers would want to buy s units.
c.
Producers would wish to sell s units.
d.
Producers would wish to sell r units.
d
You might also like to view...
The demand for labor increases (that is, the demand for labor curve shifts rightward) if the
A) wage rate increases. B) wage rate decreases. C) price of the firm's output rises. D) price of the firm's output falls.
Assume that Y is normally distributed N? (??, ?2?). Moving from the mean ?(??) 1.96 standard deviations to the left and 1.96 standard deviations to the? right, then the area under the normal p.d.f.? is:
A) 0.67 B) 0.05 C) 0.95 D) 0.33
Two car dealers have lots across the street from each other. Frank decides that he is going to raise his prices. Sandra decides to drop her prices. Which of the following scenarios is one in which Frank could make money?
a. Customers assume that higher prices mean more inventory. b. Sandra’s prices are lower than Frank’s. c. Another dealer has lower prices than both Sandra and Frank. d. Customers assume that higher-priced cars must be of higher quality.
Human capital is
a. the same thing as technological knowledge. b. the same thing as labor. c. the tools and equipment operated by humans. d. knowledge and skills that workers have acquired.