When supply increases and the supply curve shifts to the right, equilibrium price and equilibrium quantity will both increase

Indicate whether the statement is true or false

FALSE

Economics

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Refer to the figure above. A one unit increase in labor supply will lead to ________ in output in Country X than in Country Y

A) a smaller increase B) a smaller decrease C) a larger decrease D) a larger increase

Economics

The figure above shows the market for pizza

a) If the price of a slice of pizza is $3, what is the consumer surplus of the 50th slice? b) If the price of a slice of pizza is $3, what is the producer surplus of the 50th slice? c) What is the efficient quantity? What is the equilibrium quantity? What is the deadweight loss when the equilibrium quantity is produced?

Economics