Making the buying and selling of a good illegal shifts the demand curve ________ and shifts the supply curve ________
A) rightward; rightward
B) rightward; leftward
C) leftward; rightward
D) leftward; leftward
D
You might also like to view...
Which of the following is likely to have the most price inelastic demand?
a. chocolate b. Godiva chocolate c. Hershey's chocolate d. All three would have the same elasticity of demand because they are all related.
Refer to Scenario 9.9 below to answer the question(s) that follow. SCENARIO 9.9: Sponsors invest $250,000 in a new greeting card business on the promise that they will earn a return of 10% per year on their investment. The business sells 52,000 greeting cards per year. The fixed costs for the business include the return to investors and $79,000 in other fixed costs. Variable costs consist of wages ($1,000 per week) plus materials, electricity, etc. ($3,000 per week). The business is open 52 weeks per year.Refer to Scenario 9.9. The business is earning exactly a normal profit. Thus, the average price per greeting card must be
A. $1.52. B. $2. C. $4. D. $6.
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. A decrease in the number of cattle ranchers will cause a movement from
A. Point G to Point F. B. Point A to Point B. C. S1 to S2. D. D2 to D1.
Assume that a multinational company produces components in country A and ships them to a subsidiary in country B. In order to increase its profits
A) the company should charge a high transfer price for the components if income taxes in country B are higher than in country A. B) the company should charge a low transfer price for the components if income taxes in country B are higher than in country A. C) the company should charge a high transfer price for the components if income taxes in country A are higher than in country B. D) None of the above