Equilibrium quantity is _____.
about 44
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"Diseconomies of scale" occur in
A) the long run, but not the short run. B) the short run, but not the long run. C) both the short run and the long run. D) neither the short run nor the long run.
Using Figure 1.3 and starting from PP1, an increase in the capacity to produce can be represented by a movement from
A. Point A to point C. B. Point B to point C. C. Point A to point B. D. Point C to point F.
Refer to the following graphs.
A recent report indicated that 50 intensive-care unit patients die for every 1,000 who are managed with a heart device known as the right heart catheter. Suppose as a result, the FDA limited supply of the heart catheters. The effect of the report and subsequent action by the FDA on the market for right heart catheters is best shown by which of the graphs?
A. I B. II C. III D. IV
Assume D1 represents the current demand curve for skis. Which of the following would most likely cause D1 to shift to D2?
A. An increase in the price of skis B. A decrease in the price of skis C. A decrease in the price snowboards D. An increase in the price of snowboards