Suppose the price of tomato sauce falls. In the market for pizza, in which tomato sauce of a popular ingredient, one would expect that

A. the supply of pizza would increase, and the price would fall.
B. the demand for pizza would decrease, and price would fall.
C. the demand for pizza would increase, and the price would increase.
D. the supply of pizza would decrease, and price would rise.


Answer: A

Economics

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A. the explicit cost of $5,000. B. the implicit cost of $5,000. C. the explicit cost of $105,000. D. the implicit cost of $100,000.

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Answer the following statement true (T) or false (F)

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Refer to the information provided in Figure 8.4 below to answer the question(s) that follow.  Figure 8.4 Refer to Figure 8.4. Micro Oven's average fixed costs of producing twelve units of output are

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Economics