Figure 4-16
In Figure 4-16, an increase in the number of producers will shift supply from
a.
S1 to S2.
b.
S2 to S1.
c.
S3 to S2.
d.
S3 to S1.
a
You might also like to view...
Which of the following statements is true?
A) Firms are the demanders in the market for labor as well as the market for consumer goods. B) Firms are the suppliers in the market for labor as well as the market for consumer goods. C) Firms are the demanders in the market for labor, whereas they are the suppliers in the market for consumer goods. D) Firms are the suppliers in the market for labor, whereas they are the demanders in the market for consumer goods.
What most accurately describes the trend in inter-city prices between 1815-1860?
a. Prices of goods in different eastern cities diverged. b. The prices of goods in the Midwest converged towards the prices of goods in the east. c. Prices of goods in the Midwest decreased relative to the prices of goods in the east.