Suppose the supply of good X is given by QS x = 10 + 2Px. How many units of good X are produced if the price of good X is 20?
Multiple Choice Quizzes with Answer in English (Page: 330)
An ad valorem tax causes supply curve to:
Technological advances will cause the supply curve to:
Changes in the price of a good lead to:
For a steel factory, a decrease in the cost of electricity to the plant will cause the supply curve to:
The economic principle that producers are willing to produce more output when price is high is depicted by the:
The law of supply states that, holding all else constant, as the price of a good falls:
The curve which summarizes the total quantity producers are willing and able to produce at differing prices is the:
Other things held constant, the greater the price of a good
Suppose the demand for good X is given by…..
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. If aM is negative, then good y is:
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. If ay is positive, then:
Suppose the demand for good X is given by Qd x = 10 + axPx + ayPy + aMM. From the law of demand we know that ax will be:
The demand function recognizes that the quantity of a good consumed depends on:
Which of the following can explain an increase in the demand for housing in retirement communities?
Persuasive advertising influences demand by:
Graphically, a decrease in advertising will cause the demand curve to:
If A and B are complements, an increase in the price of good A would:
If A and B are complements, an increase in the price of good A would:
Which of the following pairs of goods are probably complements?