If the price of x falls, the budget constraint:
a. shifts outward in a parallel fashion.
b. shifts inward in a parallel fashion.
c. rotates outward about the x-intercept.
d. rotates outward about the y-intercept.
d
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Suppose that when NBC produces 1 new drama series in a season it gives up the chance to produce 3 new reality shows. This means that
A) the opportunity cost of a new drama series is 1/3 of a new reality show. B) the opportunity cost of a 1 new reality show is 1/3 of a new drama series. C) NBC has a comparative advantage in producing new drama series. D) NBC has a comparative advantage in producing new reality shows.
Eva wants to create a graph containing the prices of concert tickets and the corresponding quantities of concert tickets demanded by customers. She should use a(n)
a. pie chart. b. bar graph. c. time-series graph d. coordinate system.