A shift in the demand curve means which of the following?
a) a change in demand at every price
b) a rise in prices
c) a decrease in both price and quantity demanded
d) a change in consumer income
Answer: a) a change in demand at every price
Economics
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Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
Economics
Trade allows the people of a country to produce outside their production possibility curve.
Answer the following statement true (T) or false (F)
Economics