The change in price that results from a rightward shift in demand will be greater if
A) the supply curve is horizontal than if the supply curve is upward sloping.
B) the supply curve is relatively steep than if the supply curve is relatively flat.
C) the supply curve is upward sloping than if the supply curve is vertical.
D) the supply curve is horizontal than if the supply curve is vertical.
B
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If there are only two goods and these are consumed in fixed proportions, the price elasticities of demand for these two goods will sum to
a. 0.0 b. -0.5 c. -1.0 d. a number between 0 and -1.
A diversified portfolio only makes sense for large institutional investors, not for small investors
a. True b. False Indicate whether the statement is true or false
What will happen to the equilibrium price of new textbooks if more students attend college, paper becomes cheaper, textbook authors accept lower royalties, and fewer used textbooks are sold?
a. Price will rise. b. Price will fall. c. Price will stay exactly the same. d. The price change will be ambiguous.
The typical public assistance grant in the United States
A. leaves the family well below the poverty line. B. leaves the family just below the poverty line. C. puts the family just above the poverty line. D. puts the family well above the poverty line.