Refer to Scenario 2.2. Under what circumstances will the equilibrium level of output of dental care remain the same?
A) If supply shifts more than demand.
B) If demand shifts more than supply.
C) If both demand and supply shift by the same magnitude.
D) If supply and demand shift in the same direction.
C
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Bryce saw a motorcycle for sale online. He had been wanting that model of motorcycle and was willing to pay $5,000. The one he saw online was listed for $3,500, so he immediately bought it. In this case, how much was the consumer surplus?
a. $1,500 b. $3,500 c. $5,000 d. $8,500
Bond prices and yields:
A. move together inversely. B. are independent of each other. C. do not change if the coupon is fixed. D. move together in the same direction.
A firm will continue to produce additional output, as long as marginal revenue is greater than marginal cost.
a. true b. false
Refer to the above diagram. If aggregate supply shifts from AS1 to AS2, then the price level will:
A. increase and real domestic output will decrease. B. decrease and real domestic output will decrease. C. decrease and real domestic output will increase. D. increase and real domestic output will increase.