Which of the following shifts the supply curve of popcorn leftward?
A) a decrease in the price of popcorn
B) an increase in the price of popcorn
C) a technological development in the production of popcorn
D) a decrease in the number of popcorn suppliers
E) a decrease in the cost of producing popcorn
D
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If you put $100 into a bank account that earns five percent interest per year, what is the formula you should use to determine the account's future value in one year?
A) Future value = [Present value × (1 + i)] B) Future value = (Present value × i) C) Future value = (Present value / i) D) All of these yield the same answer.
Why doesn’t a competitive firm reduce its price below the industry price to increase sales?
What will be an ideal response?
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
a. average total cost curve. b. average variable cost curve. c. average fixed curve. d. average price curve.
Final consumer demand for poultry in the US increases (shifts to the right) if
a) consumer income decreases b) the price of chicken decreases c) the price of beef increases d) the price of pork decreases