If Georgia experiences a late frost that damages the peach crop, we should expect the
a. supply curve for peaches to shift to the right and the price of peaches to fall.
b. supply curve for peaches to shift to the left and the price of peaches to rise.
c. demand curve for peaches to shift to the left and the price of peaches to fall.
d. demand curve for peaches to shift to the right and the price of peaches to rise.
B
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Explain how the value of marginal cost affects the values of average variable cost and average total cost and what this means for the relationship between the marginal cost curve and the average variable and total cost curves
What will be an ideal response?
When we estimate a regression to determine the relationship between changes in consumption and changes in current income, we find that
A) there are no residuals. B) the R2 is zero. C) the MPC is larger than one. D) all of the above E) none of the above