Suppliers will provide more of a good when
A. there is a decrease in demand.
B. the good is a normal good.
C. the market price increases.
D. resource prices increase.
Answer: C
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In the figure above, a firm is operating at point A on the graph. At point A, the firm's average cost curve
A) has negative slope. B) has positive slope. C) is horizontal. D) is vertical.
Fiscal policy refers to
A) changes in the amount of government expenditures and taxes to achieve particular economic objectives. B) changes in the composition of a given amount of government expenditures to achieve particular economic objectives. C) changes in interest rates initiated by government action. D) any change in government spending or taxes that has the intended effect of destabilizing the economy.
Too much data is available to test macroeconomic models.
Answer the following statement true (T) or false (F)
When you are maximizing your utility for product A,
A. marginal utility of A = 0. B. marginal utility of A = 1. C. marginal utility of A = price of A. D. None of these choices are true.