Which of the following would cause a leftward shift in the demand curve for a good?
A) an increase in income
B) an increase in the price of a complementary good
C) an increase in the price of a substitute
D) the expectation that there will be a shortage in the availability of the good
B
Economics
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A) the money price of oil; decreases B) the money wage rate; decreases C) the money wage rate; increases D) technology; decreases E) technology; increases
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Economic profits will take into account: a. explicit costs but not implicit costs. b. implicit costs but not explicit costs. c. both implicit and explicit costs
d. neither explicit nor implicit costs.
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