If the demand for legal services decreases, the demand for legal assistants probably will:
A. increase.
B. decrease.
C. not be affected.
D. change in a manner that cannot be predicted.
Answer: B
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Scarcity is a situation in which resources are unlimited in quantity and can be used in different ways
Indicate whether the statement is true or false
Explain what the poverty line is and its purpose
What will be an ideal response?
Fred's demand schedule for movie DVDs is as follows: At $60, he would buy 1; at $50, he would buy two; at $30, he would buy 3; and at $20, he would buy 4 . If the price of movie DVDs equals $40, the consumer surplus Fred receives from purchasing movie DVDs would be: a. $20
b. $30. c. $40. d. $110.
When quantity supplied is greater than quantity demanded, there is a ____________.
Fill in the blank(s) with the appropriate word(s).