When producers anticipate that the price of their product will increase in the future
A. the supply curve will shift to the left.
B. the supply curve will shift to the right.
C. they will immediately lobby Congress to adjust prices now.
D. the current production will move along on the supply curve.
Answer: A
You might also like to view...
If zinc suppliers are successful in forming an international zinc cartel, they will experience
a. lower output and higher prices, which discourage the entry of new firms into the industry b. lower output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry c. higher output and higher prices, which discourage the entry of new firms into the industry d. higher output, higher prices, and the need to organize an effort to prevent the entry of new firms into the industry e. none of the above
A change in output by one firm in an industry affects the sales of its competitors. This exemplifies ______.
a. tie-in sales b. social welfare c. perfect competition d. mutual interdependence
Suppose that there are only two countries in the world, Heartland and Soulland. The two countries produce only two goods, corn and drill presses. At its current level of production, Heartland must give up production of 1/4 drill press to produce an additional 100 bushels of corn. Soulland must give up 1 drill press to produce an additional 100 bushels of corn. No trade now occurs between the two economies, and both economies are operating on their respective production possibilities frontiers. 89. (Exhibit: Heartland and Soulland) The country with a comparative advantage in the production of corn is:
A) Heartland. B) Soulland. C) neither; they both use the same technology. D) neither; they both use the same amount of resources.
What is the difference between the optimizing strategies used in an English auction and a Dutch auction?
What will be an ideal response?