In markets where the supply curve is vertical, changes in:
A. Demand will not cause the equilibrium price to change
B. Supply will not cause the equilibrium price to change
C. Demand will not cause the equilibrium quantity to change
D. Supply will not cause the equilibrium quantity to change
C. Demand will not cause the equilibrium quantity to change
You might also like to view...
Based on the following information, the value of the M1 measure of the money supply is ________ and the value of the M2 measure of the money supply is ________. AssetsBillions of DollarsCurrency20Demand deposits30Money market mutual funds80Travelers' checks5Savings deposits180Other checkable deposits20Small denomination time deposits110
A. $255 billion; $445 billion B. $445 billion; $445 billion C. $75 billion; $445 billion D. $55 billion; $425 billion
The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. employee evaluation is hampered by managers often having different skill sets than those the manage
Which of the following statements is FALSE?
A) A correct measure of a firm's economic cost includes both accounting and opportunity cost. B) The accounting profit earned by a firm will always be the same as its economic profit. C) The major difference between accounting and economic profit is that accounting profit does not reflect the opportunity cost of using resources. D) The accounting profit of a firm is its total revenue minus total explicit costs.
If you get a job and are never required to join the union, this is known as a(n)
A) closed shop. B) open shop. C) agency shop. D) union shop.