Multiple Choice
When economists say that the supply of a product has decreased, they mean that
A) a greater quantity will be produced at any price.
B) the price is too high for equilibrium.
C) a smaller quantity will be produced at any price.
D) demand was too high for producers to make a profit.
E) the price is too low for equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
Q48: The high price of gasoline in the
Q49: The demand curve of good A is
Q50: The principle that consumers tend to buy
Q51: Does the following condition violate the law
Q52: Suppose that hotdogs are inferior goods. Which
Q54: Consider the market for pop music played
Q55: Exhibit 3-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-3
Q56: Exhibit 3-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-4
Q57: Suppose all workers in the fast-food industry
Q58: Exhibit 3-5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-5