For typical goods, supply curves are
A) downward sloping.
B) upward sloping.
C) horizontal.
D) vertical.
B
You might also like to view...
A reason why it is difficult for developing countries to maintain a cartel is that
A) the elasticity of demand for a cartel's output decreases over time. B) producers in the cartel have an economic incentive to cheat. C) economic profits discourage other producers from entering the industry. D) producers in the cartel have the motivation to lower prices but not to raise prices. E) tariffs allow producers in the cartel to produce items that make no profit.
Economists emphasize the importance of ____ in analyzing demand
a. quantity b. market potential c. wants and needs d. price e. sales opportunities
If Canada's national saving exceeds its domestic investment, then Canada has
a. positive net capital outflows and negative net exports. b. positive net capital outflows and positive net exports. c. negative net capital outflows and negative net exports. d. negative net capital outflows and positive net exports.
Recall the Application about the response of bike messengers in Zurich to a change in wages to answer the following question(s).Recall the Application. A study of bike messengers in Zurich showed that as the messengers' revenue share increased from 40% to 50%, their:
A. efforts decreased but their incomes still increased. B. efforts increased but their incomes still decreased. C. efforts decreased causing their incomes to decrease. D. efforts increased causing their incomes to increase.