A supermarket manager discovers that his generic brand beans are disappearing off of his shelves faster than he can restock them and the premium brand beans are staying on the shelf going unsold
What can we probably say about the current prices of each of these products in relation to the market-clearing price?
The price for the generic brand beans is probably below the market-clearing price and should be raised. The price for the premium brand beans is probably above the market-clearing price and should be lowered.
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When an economy experiences a one-time increase in productivity, there is an immediate increase in ________
A) the saving rate B) the capital-labor ratio C) the depreciation rate D) consumption per worker
Figure 11-3
Using the graph in Figure 11-3, the profit-maximizing monopolist will charge a price
A. of more than $3. B. of $3. C. between $2 and $3. D. of $2.
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.
A rightward shift in the aggregate supply curve is best explained by an increase in:
A. business taxes. B. productivity. C. nominal wages. D. the price of imported resources.