Refer to the information provided in Figure 3.12 below to answer the question(s) that follow.
Figure 3.12Refer to Figure 3.12. The supply curve for hula hoops shifts from S1 to S0. This could be caused by
A. a decrease in the number of firms selling hula hoops.
B. a decrease in the cost of producing hula hoops.
C. a decrease in the demand for hula hoops.
D. a decrease in the price of hula hoops.
Answer: B
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Matt pays a $50 a month membership fee at Bruno's Gym. He can exercise at the gym as many times as he wishes
If the membership fee is measured along the vertical axis and the number of times he exercises is measured along the horizontal axis, the graph between his membership fee and the number of times he exercises will A) be a horizontal line. B) be positively sloped. C) be negatively sloped. D) be a vertical line. E) start out positively sloped and then, as Matt loses interest, become negatively sloped.
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A) decrease; increase to its initial level B) increase; increase further C) increase; decrease to its initial value D) decrease; decrease further