Recent research suggested that there are large health benefits from consuming cooked tomatoes. Holding other things constant, this will cause
a. The demand curve for tomatoes to shift to the right
b. The demand curve for tomatoes to shift to the left
c. The supply curve for tomatoes to shift to the right
d. The supply curve for tomatoes to shift to the left
a
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Using Figure 9.1, explain what a firm would do in the short run if the market price of its product dropped below P1
What will be an ideal response?
If total Fed liabilities __________, then reserves have to __________, everything else being equal
A) fall; rise B) rise; rise C) fall; fall D) None of the above.
Economists disagree on whether labor taxes cause small or large deadweight losses. This disagreement arises primarily because economists hold different views about
a. the size of labor taxes. b. the importance of labor taxes imposed by the federal government relative to the importance of labor taxes imposed by the various states. c. the elasticity of labor supply. d. the elasticity of labor demand.
For a monopolist, ______.
a. its demand curve is downward sloping b. its marginal revenue is less than price c. existing economic profits can be sustained over time d. all of these