A change in the price of a good
A) shifts the good's demand curve and also causes a movement along it.
B) shifts the good's demand curve but does not cause a movement along it.
C) does not shift the good's demand curve but does cause a movement along it.
D) neither shifts the good's demand curve nor causes a movement along it.
C
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Profit maximization occurs where
A) each factor is used up to the point where its marginal revenue product is equal to its marginal factor cost. B) each factor is used up to the point where its marginal physical product is equal to its marginal factor cost. C) average variable cost equals marginal cost. D) average variable cost equals average total cost.
The tax cuts passed during the Reagan administration were designed primarily to: a. boost savings among consumers
b. shift the aggregate demand curve rightward. c. reduce the balance-of-payments deficit. d. increase the supply of productive resources. e. increase the tax base and include more tax payers.