One reason the demand for laptop computers might increase is a
A) decrease in income if laptops are a normal good.
B) change in preferences as laptops have become more portable, with faster processors and larger hard drives.
C) fall in the price of a laptop computers.
D) poor quality performance record for laptop computers.
E) fall in price of desktop computers.
B
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If by chance, the level of investment that producers intend to make equals what consumers actually save out of their income, it follows that what producers intend to produce for consumption is precisely what consumers intend to consume. This set of equalities is shown as
a. Ci = Y – Ii b. Ci = Y – S c. Y = C + S d. Ii = S e. I = Y
A demand curve for flowers would show the
a. number of flowers the floral shop is willing to sell at various prices. b. number of people who need flowers. c. quantity of people who want to buy these flowers. d. number of flowers that will be purchased at various prices.
Globalization was much more pervasive in the 1800s than it is today.
Answer the following statement true (T) or false (F)
Exhibit 7-15 Long-run average cost
If the firm represented in Exhibit 7-15 is operating with a plant whose size corresponds to short-run average total cost curve A, the level of output that would minimize its short-run average total cost is:
A. 500 units per week. B. 1,000 units per week. C. 1,500 units per week. D. 2,000 units per week.