Assume the D curve for orange juice (a normal good) in the US has shifted to the left. Which of the following factors has most likely caused this to happen?
a) Increase in the P of orange juice.
b) Increase in the availabilty of energy drinks (substitute products).
c) Increase in consumer income.
d) Decrease in the supply of orange juice.
e) Decrease in the P of orange juice.
b) Increase in the availabilty of energy drinks (substitute products).
Economics
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Refer to the scenario above. What is the net present value of the investment?
A) -$7,112.36 B) -$5,365.10 C) -$475.31 D) $9,524.19
Economics
Economies of scale exist when the
A) total cost of production falls as the output increases. B) cost of producing a unit of a good falls as its output decreases. C) cost of producing a unit of a good falls as its output increases. D) firm uses specialized resources to produce a range of goods and services.
Economics