An increase in supply means that the quantity supplied
A. does not rise at any price.
B. increase only at the equilibrium price.
C. increases at most prices.
D. increases at all prices.
D. increases at all prices.
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Does a tax on buyers affect the supply curve?
A. Yes, it shifts to the left by the amount of the tax.
B. Yes, it shifts to the right by the amount of the tax.
C. Yes, it shifts up by the amount of the tax.
D. No, there is change in the quantity supplied, but the supply curve does not move.
Taylor's marginal utility from watching movies and from eating out (in utils) is shown in the accompanying table. Taylor spends exactly $100 every month on these two forms of entertainment; the price of each movie is $10 and the price of each dinner is $20.MoviesPer MonthMarginal UtilityPer MovieDinners OutPer MonthMarginal UtilityPer Dinner160115025021403203120454100 If Taylor eats out 3 times a month, Taylor will watch ________ movies, and have marginal utility per dollar of ________ from eating out and a marginal utility per dollar of ________ from going to the movies.
A. 3; 4; 4 B. 4; 6; 1/2 C. 3; 2; 6 D. 4; 6; 2
The existence of economic profits in a perfectly competitive industry
A. will signal resources to flow into that industry. B. gives the investors in that industry a return on investment that just covers opportunity costs. C. indicates an inelastic demand for the industry's products. D. indicates that economic resources are being used efficiently in that industry.
Foreign residents can benefit from U.S. research and development activity because
A. they can import the goods, obtaining inputs at lower cost than they would otherwise. B. countries usually share patented ideas. C. they ignore U.S. patent laws and steal the technology. D. patents do a poor job of protecting the inventor.