Normally an increase in the supply of a good will cause
A. a shift of consumer preferences in favor of that good.
B. consumers to use more of that good and less of others.
C. a shift of consumer preferences away from that good.
D. consumers to use less of that good and more of others.
Answer: B
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The two major types of finance company are
A) captive and specialty. B) public and private. C) consumer and commercial. D) insured and uninsured.
Provide four reasons for the changes observed in per-pupil spending during the latter half of the twentieth century
What will be an ideal response?
The income of an individual in Budopia depends on his ethnicity and several other factors which can be measured quantitatively. If there are 5 ethnic groups in Budopia, how many dummy variables should be included in the regression equation for income determination in Budopia?
A. 1 B. 5 C. 6 D. 4
For perfectly competitive firms, marginal revenue ________ price; for monopolists marginal revenue ________ price.
A. equals; is less than B. equals; equals C. equals; is greater than D. is less than; equals