Which of the following is evidence of a surplus of bananas?
A) The price of bananas is lowered in order to increase sales.
B) Firms raise the price of bananas.
C) The equilibrium price of bananas rises due to an increase in demand.
D) The quantity of bananas demanded is greater than the quantity supplied.
A
Economics
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If the population and GDP increase by the same percentage, then real GDP per capita:
A. stays the same. B. increases. C. decreases. D. may change, but one cannot be sure of the direction.
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Comment on the following statement: "The shape of a firm's long-run average cost curve is determined by both external and internal economies (or diseconomies) of scale."
What will be an ideal response?
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