In the market for French wines, an increase in demand is illustrated by:
A) a movement up the demand curve.
B) a movement down the demand curve.
C) a shift of the demand curve to the left.
D) a shift of the demand curve to the right.
Answer is D) a shift of the demand curve to the right.
You might also like to view...
If everyone has a dominant strategy, there can be no mixed strategy equilibrium.
Answer the following statement true (T) or false (F)
Which of the following statements is true?
A) The marginal entrant in a market earns the highest profit. B) The marginal entrant has the lowest cost among all firms in the market. C) Difference in technology and experience can lead to firms having non-identical costs even under perfect competition. D) In a market that has identical cost structures for all firms, there is possibility of positive economic profits in both the short run and the long run.
A dominant strategy is one:
A. that is the best one to follow, no matter what strategy other players choose. B. in which a player is forced to choose given the rules of the game. C. in which a player must choose, even though it does not optimize his outcome. D. provides a player with the highest payoff in the game.
Prospective payment in the hospital sector
a. resulted in the hospital keeping any surplus payment. b. resulted in the hospital absorbing any loss from the payment. c. changed the incentive structure completely. d. all of these are true.