Refer to the data in Figure 22.1. The price of this good
A. Is $1 per unit.
B. Is $50 per unit.
C. Is $100 per unit.
D. Varies as output changes.
Answer: A
You might also like to view...
A market survey conducted by an electronics manufacturer reported a year on year growth in the sale of television sets, along with an increase in the selling price. Which of the following could be a likely cause for this situation?
a. A decrease in supply b. An increase in demand c. A decrease in demand d. An exception to the law of demand e. An increase in supply
Industrialized countries generally have higher levels of educational attainment compared with poorer countries
a. True b. False Indicate whether the statement is true or false
Which of the following would be likely to cause a nation's currency to depreciate?
What will be an ideal response?
If a state government reduces property taxes for residents at the same time that it increases the state income tax, what will happen to the expenditures schedule of the residents of this state?
A. It shifts upward. B. It shifts downward. C. It becomes less steep. D. It becomes steeper. E. It does not change.