Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B?
A. Alan could have experienced a drop in income.
B. The price of books could have increased.
C. Alan could have decided he doesn't like going to the movies as much as he used to.
D. The price of movie tickets could have increased.
D. The price of movie tickets could have increased.
Economics
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Based on the production and revenue data in the above table, what is the marginal product of the 4th worker?
A) 28 B) 6 C) 4 D) 2
Economics
Prices play a role in a market
A) because they distribute scarce goods to those consumers who value them most highly. B) because when prices are in equilibrium, product shortages or surpluses can occur. C) because they help eliminate poverty. D) because they eliminate scarcity.
Economics