Assume that supply decreases greatly and demand decreases slightly. Which of the following will happen?
a. Equilibrium price will fall and equilibrium quantity will rise.
b. Equilibrium price will rise and equilibrium quantity will fall.
c. Equilibrium price will rise and equilibrium quantity will rise.
d. Equilibrium price will fall and equilibrium quantity will fall.
e. Neither equilibrium price nor equilibrium quantity will change.
B
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Refer to the figure above. What does the region EFG represent?
A) Consumer surplus B) Producer surplus C) Deadweight loss D) Economic profit
The Jeans Store sells 7 pairs of jeans per day when it charges $100 per pair. It sells 8 pairs of jeans per day at a price of $90 per pair. The marginal revenue of the eighth pair of jeans is
A) $20. B) $90. C) $100. D) $700.
U.S. national debt at the end of the fiscal year 2018 was
A. over $21 trillion. B. over $31 trillion. C. $45 trillion. D. $50 trillion.
Diversification can reduce firm-specific risk
a. True b. False Indicate whether the statement is true or false