If resale price maintenance leads to a shift in the market demand that exceeds the shift in the market supply, the quantity of the good sold will ________ and the manufacturer's profit will ________.
A) decrease; decrease
B) decrease; increase
C) increase; increase
D) increase; decrease
C) increase; increase
You might also like to view...
Which of the following is likely to cause an increase in the wage rate and a fall in the employment level in a country?
A) A right shift in the demand curve for labor, without any change in the supply curve for labor B) A left shift in the demand curve for labor, without any change in the supply curve for labor C) A right shift in the supply curve for labor, without any change in the demand curve for labor D) A left shift in the supply curve for labor, without any change in the demand curve for labor
Thomas Jefferson strongly influenced the passing of the Land Ordinances of 1785 and 1787
A close study of those ordinances suggests that Jefferson believed in the importance of securing the private rights of individuals to buy, sell and derive income from their land. Indicate whether the statement is true or false
When a negative externality exists in a market, the cost to producers
a. is greater than the cost to society. b. will be the same as the cost to society. c. will be less than the cost to society. d. will differ from the cost to society, regardless of whether an externality is present.
Starting at full employment, a business cycle can be described by the following sequence: ... equilibrium, ... equilibrium, ... equilibrium
What will be an ideal response?