The change in the quantity demanded of any good is always caused by:
a. a change in consumers' preferences for that good.
b. a change in the general income levels of the consumers who buy that good.
c. an increase or decrease in the population.
d. a change in the price of that good.
e. a change in the price of substitute goods.
d
Economics
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A firm uses workers and seed to grow lettuce. Its lettuce output rises from 100 tons to 200 tons when the number of workers increases from 25 to 75 . Its production process shows
a. decreasing returns to scale. b. diminishing returns to labor. c. increasing long-run average cost. d. decreasing short-run average variable cost.
Economics
The United States has less income inequality than
a. Ethiopia. b. United Kingdom. c. Vietnam. d. Mexico.
Economics