Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. A decrease in quantity supplied is represented by a movement from
A. S2 to S1.
B. S2 to S3.
C. Point B to Point A along supply curve S2.
D. Point B to Point C along supply curve S2.
Answer: D
You might also like to view...
Which of the following is least likely to limit the ability of a firm to minimize production costs?
A) Resistance by labor. B) The fact that the firm is a nonprofit organization. C) An increase in the amount of competition faced by the firm. D) Legislated input combinations for firms in particular industries, e.g, health care.
New growth theory is concerned with
A) finding a good way to measure economic growth. B) increasing the savings rate in the U.S. C) understanding the forces that increase productivity. D) understanding how compounding works.
An example of a transfer payment is:
A. a federal income tax refund. B. a Social Security payment. C. the $3 donation to the Wildlife Fund you make on your tax return. D. the taxes corporations pay on profit.
If a good causes a positive externality, regulation might take the form of a
A. subsidy. B. ban on the product. C. tax. D. price floor.