If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right.
B) there has been a movement upwards along the supply curve for apples.
C) the supply curve for apples has shifted to the left.
D) there has been a movement downwards along the supply curve for apples.
Answer: C
Economics
You might also like to view...
In the short run, a perfectly competitive firm's economic profits
A) must equal zero, that is, the firm earns a normal profit. B) must be positive. C) might be positive, negative (an economic loss), or zero (a normal profit). D) must be negative, that is the firm must incur an economic loss.
Economics
An increase in expected inflation shifts the
a. short-run Phillips curve right. b. short-run Phillips curve left. c. long-run Phillips curve right. d. long-run Phillips curve left.
Economics