If supply in the market for air filters is specified as QS = 24 + 3P, then, when conventionally graphed,
a. the vertical intercept is +24
b. the slope of the supply curve is +3
c. the horizontal intercept is +3
d. none of the above
d. none of the above
You might also like to view...
When choosing the right amount of a public good to supply, the government often:
A. guesses, because people have an incentive to overstate a good's value. B. provides too much, because people have an incentive to understate a good's value. C. provides too little, because people have an incentive to overstate a good's value. D. fails to provide it, because people have an incentive to understate a good's value.
In a market system, the most dangerous types of bankruptcies involve
a. industrial monopolies. b. multinational firms. c. employment agencies. d. financial institutions.
Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-1, if the market is in equilibrium, then producer surplus is represented by:
A. ADFB. B. CEFD. C. EGH. D. BEF.
Consider the above figure. Autonomous consumption, in this scenario, is equal to
A) $30. B) $80. C) $60. D) $40.