A decrease in demand would be represented by
A) the price of a good going up.
B) a downward movement along the demand curve.
C) an upward movement along the demand curve.
D) a shift of the demand curve to the left.
Answer: D
Economics
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A binding price floor is presented graphically as a(n):
a. price at equilibrium. b. price below equilibrium. c. price above equilibrium. d. inefficiently high quality of the good provided
Economics
If the price of product Y is $25 and its marginal cost is $18:
A. Y is being produced with the least-cost combination of resources. B. society will realize a net gain if less of Y is produced. C. resources are being underallocated to Y. D. resources are being overallocated to Y.
Economics