The price of bananas will increase in response to:
A. an increase quantity of bananas supplied.
B. an excess demand for bananas.
C. an excess supply of bananas.
D. an increase in the supply of bananas.
Answer: B
Economics
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Between points "b" and "c" in the above figure, the opportunity cost of 250 more bushels of corn is
A) 200 yards of cloth. B) 250 yards of cloth. C) 600 yards of cloth. D) 800 yards of cloth.
Economics
When speed boat sales rise, the city of Las Vegas takes in more revenue. The omitted common variable between these outcomes is likely to be:
A. life jacket sales. B. prices of Las Vegas flights. C. childhood obesity. D. increased disposable income.
Economics