Seller A, has an upward-sloping supply curve, and is willing to supply 400 units of a commodity at a price of $5 per unit. Seller A is now willing to supply 500 units at a price of $5 per unit. Evidently, seller A has experienced a(n):
a. increase in supply.
b. decrease in supply.
c. increase in quantity supplied.
d. decrease in the quantity supplied.
e. decrease in demand.
a
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A minimum wage that is above the equilibrium wage rate
A) increases efficiency within the labor market. B) increases the quantity of labor demanded. C) creates a deadweight loss. D) has no effect on the labor market because it is set above the equilibrium wage rate. E) None of the above answers is correct.
What are the Nash equilibrium strategies for Firm A and Firm B respectively?
a. Low, Low b. Low, High c. High, Low d. High, High
Between 1960 and 2013 U.S. GDP, measured in dollars of constant purchasing power, expanded about 5.0 times. However, the standard of living only increased by 4 times over this period. Explain the difference
Which of the following is NOT a category in the U.S. balance of payments account?
A. financial account B. official reserve transactions account C. past-due account D. current account