Which of the following is a normative statement?
A) The price of candy bars is $1.25 each.
B) Candy bars are more expensive than newspapers.
C) You should eat less candy.
D) Popcorn and candy are sold in movie theaters.
C
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Compare and contrast the four market models in terms of the profit-maximizing output level for each, the shut-down rule for each, the probability of long-run economic profits being earned, and their social desirability
Refer to the following graphs.
In the early 1990s, mounds of newspapers and worthless plastic piled up at recycling centers. As the nation's economy continued to grow, increased demand eliminated the mounds and turned them into shortages. In the mid-1990s, as recycling became more popular, the mounds of recycled materials returned. What graph best depicts these events on the market for recycled materials?
A. Price remained constant at P0. Demand shifted from D0 to D1 and then back to D0. B. Price remained constant at P0. Supply first shifted from S1 to S0 and then back to S1. C. Price remained constant at P0. Demand shifted from D0 to D1 then supply shifted from S0 to S1. D. Price remained constant at P0. Quantity demanded first rose, while supply remained constant; quantity supplied then rose, while demand remained constant.