The number of corn producers increases, so the supply of corn ________ and the supply curve of corn ________
A) increases; does not shift
B) increases; shifts rightward
C) decreases; shifts leftward
D) increases; shifts leftward
E) decrease; shifts rightward
B
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How does an increase in expected profit affect investment demand and the demand for loanable funds curve?
What will be an ideal response?
Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X. If supply is S1 and demand D0, then
A. 0F represents a price that would result in a surplus of AC. B. a surplus of GH would occur. C. 0F represents a price that would result in a shortage of AC. D. at any price above 0G a shortage would occur.
Toby sells wheat in a perfectly competitive market. This month Toby receives a higher price for a bushel of wheat than he did last month. Which of the following might explain this?
A. The market demand for wheat increased. B. The market demand for wheat decreased. C. Firms entered the market. D. Toby's costs have decreased.
Which of the following is not a characteristic of a monopolistically competitive market?
A. Firms hold patents on their products. B. The products that firms sell are slightly different. C. Firms have some control over price. D. There are no artificial barriers to entry.