What is needed to create a supply schedule for a fruit smoothie shop?
(A) A supply curve and the price other shops are charging.
(B) The number of other shops producing smoothies.
(C) The price charged and the number of smoothies supplied.
(D) All of the above.
Ans: (C) The price charged and the number of smoothies supplied.
You might also like to view...
The table above describes the market for paper. The production of paper produces pollution. There are no external benefits. What is the quantity produced if the market for paper is unregulated?
A) 10 tons per week B) 60 tons per week C) 40 tons per week D) 30 tons per week
A slump in one industry could increase the relative attractiveness of another industry:
A. increasing the quantity of labor supplied in the latter. B. decreasing the quantity of labor supplied in the latter. C. increasing the quantity of labor demanded in the latter. D. decreasing the quantity of labor demanded in the latter.
Adverse selection can occur if:
a. high-risk persons insure themselves more heavily than low-risk persons. b. high-risk persons claim coverage which cannot be borne by the insurers. c. high-risk persons do not conceal information from the insurer. d. high-risk persons make an effort to take less risk in the presence of an insurance cover.
Which of the following is the best example of a disruptive market change related to international trade?
a. a domestic manufacturer opens a new state-of-the-art facility in the home country b. an international manufacturer opens a new state-of-the-art facility in the home country c. an international manufacturer develops a completely robotic manufacturing process d. a domestic manufacturer replaces one international supplier with another international supplier