Figure 34-9
?

In Figure 34-9, at price OC
A. quantity supplied of pasta exceeds quantity demanded so price will fall.
B. quantity demanded for pasta exceeds quantity supplied so price will rise.
C. exports of pasta equal XY.
D. imports of pasta equal XY.
Answer: B
You might also like to view...
Which of the following addresses agency costs?
a. advertising for employee positions in as many outlets as possible b. hiring only from job fairs c. instituting longer work days d. replacing closed offices with cubical office spaces
A monopolist's supply curve
a. is the upward-sloping portion of its marginal cost curve b. is the portion of its marginal cost curve above AVC c. is parallel to its long run ATC curve d. does not exist because quantity supplied depends on the market demand curve e. is derived from the average variable cost curve
Ron owns a mineral water plant that was set up with an initial investment of $4,000 . Each bottle of mineral water produced costs Ron $0.80 . In the month of January, Ron's firm sold 3,000 bottles of water at $1.80 per bottle. The economic profit made by Ron in January was:
a. $3,000 b. $3,200 c. ?$1,200 d. ?$1,000
Which of the following will cause the demand curve for beer to shift right?
A) a fall in the price of beer B) a fall in average incomes of beer consumers C) a decline in population D) a successful advertising campaign linking beer consumption to lower cholesterol