The quantity of hamburger that households are willing to purchase is predicted to rise if there is:
a. a fall in the price of hot dogs
b. a fall in the price of hamburger buns
c. a rise in the price of onion rings
d. a rise in the price of catsup
b
Economics
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The figure above shows a perfectly competitive firm. In the short run, the firm will shut down
A) only if the AVC of producing 10 units is less than $20. B) only if the AVC of producing 10 units is more than $20. C) only if the AVC curve reaches its minimum before 10 units are produced. D) always.
Economics
Productivity measures (such as output per worker-hour) and wage rates adjusted for inflation in the United States are:
A. Inversely related B. Unrelated C. Directly, but not closely, related D. Directly and closely related
Economics