Suppose we observe a substantial increase in the price of a good, and, at the same time, an increase in the quantity of the good demanded. What can we conclude?
A) The law of supply is untrue.
B) Consumers haven't followed the law of demand.
C) The demand curve has shifted to the right.
D) The good is a luxury good.
C
Economics
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Refer to the table shown, which shows the demand schedule for a firm that has a monopoly on the sale of computers in the country of Oz. If the marginal cost of producing computers is $1,000 no matter how many are produced and the monopolist seeks to maximize profit, it should set the price of computers at:Price of computers($)Quantity demanded per year5,0001004,0002003,0003002,0004001,000500
A. $2,000. B. $4,000. C. $3,000. D. $1,000.
Economics
Which of the following is an important ingredient of efficient economic organization
What will be an ideal response?
Economics