If demand is represented as Qd = 20 - 3P and supply is represented as Qs = 4 + 5P, the demand curve intersects the y axis at a price of ________ and the supply curve intersects the y axis at a price of ________
A. $3; $5
B. $24; $2
C. $17; $9
D. $20; $4
Answer: D
You might also like to view...
If the price of oil rises, the
A) AD curve and the AS curve shift rightward, the price level rises, and real GDP decreases. B) AS curve shifts leftward, the price level rises, and real GDP decreases. C) AD curve and the AS curve shift leftward, real GDP decreases, and the price level rises. D) AD curve shifts rightward, real GDP increases, and the price level rises. E) AS curve shifts leftward, the price level rises, and real GDP increases.
Owners of a proprietorship have ________ liability and stockholders in a corporation have ________
A) limited; limited B) limited; unlimited C) unlimited; unlimited D) unlimited; limited
Schleppsi, a soft drink maker, is a monopsonist in the county where it manufactures all of the Diet Schleppsi it produces. Suppose the current daily labor cost to the firm is $35,000 with 99 workers and the total wage cost with 100 workers would be $36,000 . What will the market wage be if Schleppsi hires the 100th worker?
a. $35. b. $36. c. $100. d. $350. e. $360.
The slope of the consumption function is equal to: a. the MPC
b. the MPS. c. 1/(1 - MPC). d. MPC - MPS.