Figure 4.2 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $7, there is an
A) excess supply of 8 t-shirts. B) excess supply of 10 t-shirts.
C) excess demand of 8 t-shirts. D) excess demand of 10 t-shirts.
C
Economics
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A clothing store can sell two shirts for $20 each or three shirts for $18 each. At a quantity of three shirts sold, marginal revenue is _____
a. $18 b. $14 c. $54 d. $20 e. $44
Economics
Opportunity costs differ among nations primarily because
a. nations employ different currencies. b. nations have different endowments of land, labor skills, capital, and technology. c. nations have different political institutions. d. work-leisure preferences vary considerably from one nation to another.
Economics