Other things being equal, the effect of a decrease in the price of Coca-Cola would cause which of the following?
a. A rightward shift in the demand curve for Coca-Cola.
b. A downward movement along the demand curve for Coca-Cola.
c. A leftward shift in the demand curve for Coca-Cola.
d. An upward movement along the demand curve for Coca-Cola.
b
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Suppose that land and capital are substitute resources. If rent rose, then the employment of capital would be _____ by the substitution effect and _____ by the output effect.
A. increased; increased B. decreased; decreased C. increased; decreased D. decreased; increased
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. In relation to column (3), a change from column (5) to column (4) would indicate a(n):
A. decrease in demand. B. increase in demand. C. increase in supply. D. decrease in supply.
Xerox and AT&T are examples of companies that
A. reaped little benefit from the major innovations they created. B. earned too little profit to have money to invest in R&D. C. earn most of their revenues from licensing the patents they own. D. face so little competition that they see no need to innovate.
Consumer Surplus
What will be an ideal response?