A curve is plotted with y measured on the vertical axis and x measured on the horizontal axis. The slope of the curve equals
A) y divided by x.
B) the change in y divided by x.
C) the change in y divided by the change in x.
D) y divided by the change in x.
C
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If a demand curve shifts, we know that
A) the price of the good itself is not a factor. B) the price of the good itself is a factor. C) the price of the good and supply are the major factors. D) the price of the good and demand are major factors.
Suppose you're looking for a new living room sofa and discover that the local store is running a Presidents' Day sale. You are delighted because if you end up buying the sofa, the sale will
a. increase the marginal utility you derive from that sofa b. increase your consumer surplus c. reduce your consumer surplus d. decrease the marginal utility you derive from that sofa e. increase the total utility you derive from that sofa