Refer to the diagram. An increase in quantity supplied is depicted by a:
A. move from point y to point x.
B. shift from S 1 to S 2 .
C. shift from S 2 to S
D. move from point x to point y.
A. move from point y to point x.
Economics
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In the Ricardian model, the marginal product of labor:
a. first rises, then falls, as more labor is employed to produce a good. b. first falls, then rises, as more labor is employed to produce a good. c. continuously falls, as more labor is employed to produce a good. d. does not change, as more labor is employed to produce a good.
Economics
Of the collection of supply and demand diagrams in Figure 2.2, which one(s) could show the result of an increase in income?
A. Figure 1 B. Figure 2 C. Figure 3 D. Figures 1 and 2
Economics