Multiple Choice
Prices communicate information about relative availability of products. What does a decrease in the price of corn signal to consumers and producers?
A) that consumers are stocking up on corn because of the predictions of a cold winter
B) that consumers are buying more corn than before
C) that corn is relatively less abundant than before
D) that corn is relatively more abundant than before
Correct Answer:
Verified
Correct Answer:
Verified
Q5: The opportunity cost of a decision is
Q180: If Canadian consumers bought more gasoline in
Q181: The expected marginal benefit to you from
Q183: How should we judge the validity of
Q184: Most students expect that if they spend
Q186: Which of the following best illustrates the
Q187: "The hotter it gets, the more water
Q188: Which of the following statements best describes
Q189: How does an economist define a good
Q190: According to the rule of rational choice,