Suppose that only one curve shifts. If you observe that the equilibrium price increased while the equilibrium quantity decreased, then the market experienced a/an:
A. decrease in supply.
B. increase in demand
C. increase in supply.
D. decrease in demand.
Answer: A
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A) actual marginal product of capital; actual marginal product of labor B) actual marginal product of capital; expected marginal product of capital C) expected marginal product of capital; the opportunity cost of capital D) expected marginal product of capital; user cost of capital
Historical episodes allow economists to illustrate and evaluate current economic theories
a. True b. False Indicate whether the statement is true or false
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A. tuition, while an indirect cost (opportunity cost) is books and other supplies. B. forgone income while in college, while an indirect cost (opportunity cost) is tuition. C. tuition, while an indirect cost (opportunity cost) is forgone income while in college. D. books and supplies, while an indirect cost (opportunity cost) is food and housing.
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