Which of the following will not shift the demand curve for movie tickets?
a. a change in the cost of babysitting services
b. a change in the price of movie tickets
c. a change in the quality of television programs
d. a change in the income of movie-goers
e. a change in the number of consumers
B
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An increase in the demand for a product and a reduction in its costs of production would:
A. Decrease the profits of producers B. Encourage firms to leave an industry C. Encourage firms to enter an industry D. Cause a shortage of the product
To economists, the main difference between the short run and the long run is that:
A. fixed costs are more important to decision making in the long run than they are in the short run. B. the law of diminishing returns applies in the long run, but not in the short run. C. in the long run all resources are variable, while in the short run at least one resource is fixed. D. in the short run all resources are fixed, while in the long run all resources are variable.