If scientists discover that steamed milk, which is used to make lattés, prevents heart attacks, what would happen to the equilibrium price and quantity of lattés?
a. Both the equilibrium price and quantity would increase.
b. Both the equilibrium price and quantity would decrease.
c. The equilibrium price would increase, and the equilibrium quantity would decrease.
d. The equilibrium price would decrease, and the equilibrium quantity would increase.
a
Economics
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In perfect competition, marginal revenue always equals
a. total revenue. b. price. c. average cost. d. marginal fixed cost.
Economics
If the expected rate of return on investment spending increases, the investment spending function _____
a. shifts upward b. shifts downward c. rotates upward d. rotates downward
Economics