Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for motorcycles at the intersection of D2 and S2 (point E)

If the technology to produce motorcycles improves and the number of buyers increases, how will the equilibrium point change?
A) The equilibrium point will move from E to C. B) The equilibrium point will move from E to A.
C) The equilibrium point will remain at E. D) The equilibrium point will move from E to B.

B

Economics

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Which of the following people would be classified as unemployed?

a. A person who wants a job as a fashion model but cannot find work in that field b. Someone who quits a part-time job to attend school full time c. Someone who does not have a job and gives up looking for one d. A person who works at a job that underutilizes his or her skills e. A person who works part-time and would rather work full time

Economics

Explain what the profit-maximizing combination of resources is for the perfectly competitive firm

What will be an ideal response?

Economics