The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221If the price of a hamburger decreases from $3 to $2, then the weekly market quantity of hamburgers supplied will
A. decrease from 9 to 5.
B. increase from 5 to 13.
C. decrease from 13 to 5.
D. increase from 5 to 9.
Answer: A
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If the economy were producing at point A and moved to point B the opportunity cost in terms of lost production of robots would be
A. 1 unit of robots.
B. 2 units of robots.
C. 3 units of robots.
D. 2 units of outboard motors.
The figure above shows Sam's budget line. Which of the following would result in Sam's budget line rotating outward and not changing its horizontal intercept?
A) a fall in the price of a pound of coffee B) a rise in the price of a pound of coffee C) a fall in the price of a gallon of gasoline D) a rise in the price of a gallon of gasoline
The efficient markets hypothesis says that beating the market consistently is
a. impossible. Many studies find that beating the market is, at best, extremely difficult. b. impossible. Many studies find that beating the market is relatively easy. c. relatively easy. Many studies find that beating the market is, at best, extremely difficult. d. relatively easy. Many studies find that beating the market is relatively easy.
Refer to the data. If a lump-sum tax (the same tax amount at each level of GDP) of $40 is imposed in this economy, the tax system:
Answer the question on the basis of the following before-tax consumption schedule for a closed economy:
A. is regressive.
B. is proportional.
C. is progressive.
D. may be either proportional or progressive.