An increase in the demand for a good is represented by:
A) a leftward movement along the demand curve.
B) a rightward movement along the demand curve.
C) a left shift to a new demand curve.
D) a right shift to a new demand curve.
D
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A cartel will break down more easily if
A) there are only a few members. B) industry demand is very stable. C) market prices can be observed easily. D) there are many entrants in the industry.
According to the graph shown, the equilibrium price is:
According to the graph shown, the equilibrium price is:
A. $5
B. $10
C. $15
D. $20
An option may add value to a transaction because:
a. interest charges are reduced. b. the price of the good is reduced. c. additional information may become available. d. options provide buyers with monopsony power.
The marginal rate of technical substitution is
A. the rate at which the firm can substitute labor for capital while holding total cost constant. B. the rate at which the firm can substitute labor for capital while holding output constant. C. the market rate of exchange between labor and capital. D. both a and b E. both a and c