Higher steel prices will result in a shift in the supply curve of bicycles, and this will lead to
A. higher prices for bicycles.
B. lower prices for bicycles.
C. a shift in the demand curve for bicycles.
D. a larger output of bicycles.
E. no impact on the price of bicycles.
Answer: A
Economics
You might also like to view...
What is the shape of the demand curve faced by the perfectly competitive firm, and why?
What will be an ideal response?
Economics
You borrow $10,000 from a bank for one year at a nominal interest rate of 5%. If inflation over the year is 2%, what is the real interest rate you are paying?
A) 2% B) 2.5% C) 3% D) 5%
Economics