Which of the following is NOT possible according to the law of demand?
A) a horizontal demand curve
B) a vertical demand curve
C) a downward-sloping supply curve
D) an upward-sloping demand curve
D
Economics
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A situation in which the price charged is greater than society's opportunity cost would lead to
A) market failure. B) marginal monopoly pricing. C) marginal profits. D) marginal cost pricing.
Economics
Suppose the price level increases by 5 percent and the nominal wages of workers increase by 3 percent during a particular year. This implies that the real wage has: a. declined by 2 percent
b. declined by 8 percent. c. also increased by 2 percent. d. also increased by 8 percent. e. remained constant.
Economics