A demand curve is a
A) graphical representation of the demand schedule.
B) graphical representation of alternative demands.
C) horizontal line connecting amounts demanded at various income levels.
D) graphical relationship, that includes several things such as tastes, time, and supply.
A
You might also like to view...
When tastes over current and future consumption are characterized by Cobb-Douglas utility functions, a borrower who has no income now and all income in the future will borrow more when the interest rate falls.
Answer the following statement true (T) or false (F)
The table above shows three production methods to produce 100 automobiles per day. If the price of labor is $20 per unit and the price of capital is $100 per unit, which of the three methods is economically efficient?
A) Method A only B) Method B only C) Method C only D) All three methods are economically efficient.
A consumer chooses an optimal consumption point where the
a. marginal rate of substitution equals the relative price ratio. b. slope of the indifference curve exceeds the slope of the budget constraint. c. ratios of all the marginal utilities are equal. d. All of the above are correct.
Most U.S. residents are taxed at marginal rates of _____ percent and _____ percent.
Fill in the blank(s) with the appropriate word(s).