In the market for eggs, a removal of the price ceiling on eggs results in:
a. an increase in the demand for eggs.
b. farmers supplying more eggs to the market.
c. consumers demanding a larger quantity of eggs.
d. farmers supplying less eggs to the market.
e. consumers demanding a smaller quantity of eggs.
b
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The link between incentives and economic growth suggests a certain trade-off between equity and efficiency
Indicate whether the statement is true or false
Each C + I + G + (X ? IM) expenditure schedule is drawn assuming a specific
A. income level. B. spending level. C. production level. D. price level.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
Because there are low barriers to entry in a monopolistically competitive market
A. they produce a homogeneous product. B. the firms are price takers. C. there is no non-price competition. D. there are many firms in the industry.