Fran runs a doughnut shop in a tiny 3-person town. The accompanying table shows the quantity demand by the three townspeople at various prices. Price Per DoughnutQuantity Demandedby AlQuantity Demandedby BettyQuantity Demandedby Carol10 cents104625 cents92535 cents71550 cents504When the price of a doughnut is 25 cents, what is the market demand for doughnuts?
A. 9 doughnuts
B. 16 doughnuts
C. 20 doughnuts
D. 13 doughnuts
Answer: B
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Which of the following would shift the supply curve of loanable funds?
a. a change in the marginal physical product of capital b. a change in consumers' preferences for present and future consumption c. an increase in the price of the good produced by capital d. an increase in the interest rate e. a new productivity-improving technology
Barter requires
a. that the exchanged goods be portable b. that the exchanged goods be durable c. a double coincidence of wants d. that the exchange medium be divisible e. an effective middleman
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.
Other things being equal, an increase in the price of a good leads to an increase in the amount produced. This is known as
A) the law of demand. B) the law of supply. C) ceteris paribus. D) equilibrium.