Which of the following is true about the fish market-day?
a. The quantity supplied of fish increases as price increases.
b. The quantity supplied of fish decreases as price increases.
c. The quantity supplied of fish does not change regardless of price.
d. The quantity supplied of fish will adjust with changes in demand.
e. The quantity supplied of fish decreases as price decreases.
C
You might also like to view...
Which one of the following would shift the aggregate demand curve to the left?
A) an increase in the money supply B) an increase in exports C) an increase in taxes D) an increase in government spending
Refer to the table below. If the profit for each unit of paper product is $2 and the profit for each unit of lumber is $5, the profit-maximizing quantity of lumber and paper products is located between which to points on Big Oaks' production possibilities frontier?
Big Oaks can produce either paper products or lumber with each tree that they harvest. Because Big Oaks can adjust the amount of paper products and lumber they produce from the harvested trees, paper products and lumber are produced in variable proportions. The above table summarizes Big Oaks production possibilities from each harvested tree.
B and C
B) A and B
C) C and D
D) D and E
The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time
A) increased; increased B) decreased; decreased C) increased; decreased D) decreased; increased
If the marginal revenue product of an input exceeds the marginal factor cost of the input, the firm
A) should hire less of the input. B) is maximizing profit. C) is not on its marginal cost curve. D) should increase its use of the input.