If the price of a good decreased,
a. It would also increase the quantity exchanged if it was caused by an increase in demand
b. It would also decrease the quantity exchanged if it was caused by an increase in supply.
c. We would not know how quantity would change if we didn't know whether it was due to a change in demand or a change in supply.
d. All of the above would be true.
c
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When the marginal product is increasing as the quantity increases, then as the quantity increases, the
A) average product is decreasing. B) marginal cost is decreasing. C) total cost is decreasing. D) total product is decreasing. E) fixed cost is increasing.
Which of the following would be most likely to improve the standard of living of a less-developed country?
a. development of strong labor unions b. more foreign investment, attracted by the expectation of economic and political stability c. adoption of trade barriers (higher tariffs and quotas) d. widespread use of price controls to allocate goods and resources
When deciding whether to buy a second car, marginal analysis indicates that the purchaser should compare the:
A. benefits expected from two cars with the cost of both. B. additional benefits expected from a second car with the cost of the two cars. C. dollar cost of the two cars with the potential income that the cars will generate. D. additional benefits of the second car with the additional cost of the second car.
Hedge funds can be described as:
A. low risk. B. moderate risk. C. only as risky as the entire stock market as measured by an index such as the S&P 500. D. very high risk.