Other things being equal, the effect of an increase in the price of milk would be illustrated by
a. an upward movement along the demand curve for milk.
b. a leftward shift in the demand curve for milk.
c. a downward movement along the demand curve for milk.
d. a rightward shift in the demand curve for milk.
A
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In games:
A. there is only one strategy associated with each outcome. B. there are several strategies that can achieve a single goal. C. all strategies followed in one particular game should all be similar in order to be successful. D. if one person's strategy is wildly different from those of others, he will typically come in first or last.
A risk premium is additional interest, in excess of the market rate, that a bondholder receives in order to compensate him for
a. systematic risk. b. inflation. c. default risk. d. the bond discount.
The theory of consumer choice is to demand as the theory of
a. public goods is to supply. b. oligopoly is to supply. c. the competitive firm is to supply. d. comparative advantage is to supply.
Refer to the graph shown. If the firm wants to produce 900 units of output, it should use the plant size represented by:
A. SATC1. B. SATC2. C. SATC3. D. SATC4.