In Figure 2.1, a "P*" for equilibrium price would go in
A. Box 1.
B. Box 2.
C. Box 3.
D. Box 4.
Answer: C
You might also like to view...
If in the market for peaches the supply curve has shifted to the left
A) the quantity of peaches supplied has decreased. B) the quantity of peaches supplied has increased. C) the supply of peaches has increased. D) the supply of peaches has decreased.
What can one learn from Figure 13-3 from the text, shown below?
What will be an ideal response?
Figure 33-8
?
In Figure 33-8, which of the following movements reflects the closing of a recessionary gap through the economy’s self-correcting mechanism?
A. A to B B. A to C C. C to E D. D to E
The International Nickel Company of Canada is often cited as an example of monopoly, but International Nickel eventually lost its monopoly. What event was responsible for this?
A) New technology allowed other firms to achieve network externalities after World War II. B) The Canadian government, which had owned International Nickel, sold the company after World War II. The government no longer blocked entry into the market for nickel. C) Competition in the market for nickel increased after nickel fields were developed in Russia after World War II. D) Competition in the market for nickel increased after Canada signed the North American Free Trade Agreement with the United States and Mexico in 1994.