Once a division manager sees that production goal for a time period is likely to be met
a. he has an incentive to increase the pace of production
b. he has an incentive to decrease the pace of production
c. he does not have an incentive to change the pace of production
d. he has an incentive to produce other products
b
Economics
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Normally an increase in the supply of a good will cause
a. a shift of consumer preferences in favor of that good. b. consumers to use more of that good and less of others. c. a shift of consumer preferences away from that good. d. consumers to use less of that good and more of others.
Economics
Ray buys a new tractor for $118,000 . He receives consumer surplus of $13,000 on his purchase. Ray's willingness to pay is
a. $13,000. b. $105,000. c. $118,000. d. $131,000.
Economics