If demand decreases, then quantity supplied will increase
a. True
b. False
B
You might also like to view...
In 1906, the Hepburn Act
(a) Required the federal government to set "fair rates" for customers regardless of geographical location. (b) Required the federal government to set rates that promised a positive rate of return to railroads. (c) Granted the power to set maximum rates in the railroad industry to the federal government. (d) Granted the power to set maximum rates in the railroad industry to the leading railroad tycoons.
Refer to the above figure. The above figure shows the cost structure of a firm producing an information product. Which curve represents average total cost?
A) Any of the 3 could be ATC. B) Curve 1 C) Curve 2 D) Curve 3
Given the data in the above table, what is the marginal revenue when the 15th unit is sold?
A) $7.00 B) $5.00 C) $3.00 D) $1.00
One of the reasons communism failed was because:
a. governments ran out of money. b. workers received the same pay whether or not they worked hard. c. there was no unemployment. d. Mao Zedong passed away. e. technological improvements were impossible in a communist economy.