The price of hard drives used in the manufacturing of laptop computers has risen. This will lead to ________ laptop computers.
A. an increase in the supply of
B. a decrease in the supply of
C. a decrease in the quantity supplied of
D. an increase in the quantity supplied of
Answer: B
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The hypothesis that people believe that the BEST indicator of the future is the recent past is
Each price-quantity combination on a consumer's demand curve shows the utility-maximizing quantity at the given price
Indicate whether the statement is true or false
Which of the following is a problem with government regulation of natural monopolies?
a. creation of excessive profits levels b. reduced incentives to cut costs c. decreased number of firms in the market d. lack of influence from special interest groups
Figure 11-6
The profit-maximizing monopolist in Figure 11-6 will sell its output at
A. P1. B. P2. C. P3. D. P4.