A decrease in the price of a good will
a. increase supply.
b. decrease supply.
c. increase quantity supplied.
d. decrease quantity supplied.
d
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________ occurs when a foreign firm sells its exports at a lower price than it costs to produce the goods
A) Dumping B) Comparative advantage C) Learning-by-doing D) A tariff
The table above shows Mary's utility from chips and soda. The table shows that
A) Mary prefers sodas to chips. B) Mary will consume no soda and only chips. C) Mary's marginal utility decreases as she consumes more chips. D) Mary's total utility decreases as she consumes more chips.
The aggregate supply curve describes the same relationship between price and quantity as a microeconomic supply curve
a. True b. False
If all countries produce the goods for which they have comparative advantages, all countries benefit with the increased production of goods with no additional resources being used
a. True b. False Indicate whether the statement is true or false