Refer to the accompanying figure. An increase in supply is represented by a shift from:
A. curve B to curve A.
B. curve C to curve D.
C. curve C to curve B.
D. curve A to curve B.
Answer: D
Economics
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In comparison with a perfect competition, a single-price monopolist with the same costs creates a ________ consumer surplus and makes a ________ economic profit
A) smaller; larger B) smaller; smaller C) larger; larger D) larger; smaller
Economics
Which of the following transactions would be included in this year's GDP?
a. Noah purchases a five-year-old house from William. b. Noah rents a five-year-old house from William. c. Noah purchases 100 shares of AT&T stock from William. d. Noah purchases an antique at William's garage sale.
Economics