A movement from one point of a demand curve to another is properly called a change in
A) demand.
B) quantity demanded.
C) tastes and preferences.
D) the availability of substitutes.
B
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A person's stock of skills to produce economic value is referred to as:
A) fixed capital. B) human capital. C) personal wealth. D) personal capital.
Sue's Sea Shells by the Sea Shore is a perfectly competitive firm selling sea shells at the market price of $2 per dozen. Sue's Sea Shells by the Sea Shore has fixed costs of $40 per day and a variable cost schedule in the table above
The profit-maximizing level of output for Sue's Sea Shells by the Sea Shore is A) 202 dozen sea shells by the sea shore per day. B) 204 dozen sea shells by the sea shore per day. C) 205 dozen sea shells by the sea shore per day. D) 206 dozen sea shells by the sea shore per day.