Draw a graph to illustrate the effect of an increase in demand on the price and quantity in a market
What will be an ideal response?
As illustrated in the graph, an increase in demand causes the price and quantity sold of the product to increase.
Economics
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Output per capita will tend to increase if the labor force participation rate in a country ____ or if workers put in ____ hours. a. rises; longer
b. rises, shorter. c. falls; longer. d. falls; shorter
Economics
Input-output analysis is commonly used in production decisions
a. True b. False Indicate whether the statement is true or false
Economics