Suppose you produce wooden desks, and government….
Multiple Choice Quizzes with Answer in English (Page: 419)
If steak is a normal good, what do you suppose would happen to price and quantity during an economic recession?
Suppose market demand and supply are…..
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price floor of $30 is set, what will be size of the resulting surplus?
The minimum legal price that can be charged in a market is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $15 is imposed, what will be the resulting full economic price?
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. If a price ceiling of $15 is imposed,
The maximum legal price that can be charged in a market is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. The equilibrium quantity is:
Suppose market demand and supply are given by Qd = 100 – 2P and QS = 5 + 3P. The equilibrium price is:
If a shortage exists in a market, the natural tendency is for:
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?
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