Researchers have found a hybrid of corn that is cheaper to grow. This technological breakthrough
A) increases the demand for corn.
B) decreases the supply of corn.
C) increases the supply of corn.
D) Both answers A and C are correct.
E) Both answers A and B are correct.
C
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When households and firms sell financial assets, such as government securities, the
A) market price of the securities increases. B) nominal interest rate falls. C) supply of money curve shifts leftward. D) demand for money curve shifts leftward. E) nominal interest rate rises.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for mustard and that bratwurst and mustard are complements. What panel describes what happens in this market when the price of bratwurst falls?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
When the marginal benefit equals the marginal cost of the last unit sold in a competitive market
A) producer surplus is equal to consumer surplus. B) the net benefit of consumers is equal to the net benefit of producers. C) an economically efficient level of output is produced. D) total benefit is equal to total cost.
What type of risk behavior does the person exhibit who is willing to pay $5 for the chance to bet $60 on a game where 20% of the time the bet returns $100, and 80% of the time returns $50? Explain
What will be an ideal response?