An increase in the price of a particular good, with all other variables constant, causes
a. a movement along a given supply curve to a lower quantity supplied
b. a shift to a different supply curve with lower quantities supplied
c. a movement along a given supply curve to a higher quantity supplied
d. a shift to a different supply curve with higher quantities supplied
e. no movement along a given supply curve unless demand also changes
C
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In words, the equation of exchange says that
A) the total amount spent on final output equals the amount received for final output. B) the amount of money in circulation equals the velocity of the price level. C) changes in the money supply will have no impact on the amount spent on final output. D) when velocity equals 1, nominal GDP equals the price level.
A monopolist can sell 10 wangdoodles if he charges $10 per wangdoodle and 11 wangdoodles if he charges $9 . The MR from selling the 11th wangdoodle is
a. ?$1. b. $1. c. $9. d. $99.