Refer to the figure above. What is the quantity effect of a price increase from $3 to $5?

A) $200
B) $600
C) $800
D) $1,000

B

Economics

You might also like to view...

In the United States, the bulk of health care spending is paid by health insurance companies. Such a system is also called a ________ where consumers of health care pay a nominal fee and the rest is paid by the health insurance provider

A) socialized medicine system B) single-payer system C) universal health care system D) third-party payer system

Economics

In the aggregate expenditures model, if an economy operates below equilibrium GDP, there will be:

a. unplanned inventory depletion. b. unplanned inventory accumulated. c. a decrease in GDP. d. a decrease in employment.

Economics