Which of the following will not cause a change in demand for crackers?
a. a change in consumers' income
b. a change in the price of crackers
c. a change in the price of cheese
d. a change in the number of cracker-eaters
e. a change in consumers' tastes for crackers
B
Economics
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What would be the most likely effect in the market for OPEC oil if the U.S. were to impose a legal ceiling price on crude petroleum produced domestically? Assume their price is far below the current world price?
A) The demand would decrease. B) The demand would increase. C) The supply would decrease. D) The supply would increase. E) Only the quantity would change, not the demand or the supply.
Economics
Explain why firms' short-run marginal cost curves often initially decreases and then increases
What will be an ideal response?
Economics