If both the supply and demand curves shift to the left, then we can conclude that there will be a(n):
a. increase in the equilibrium quantity sold.
b. decrease in the equilibrium quantity sold.
c. increase in the equilibrium price

For a particular farmer and a single growing season, the amount of seed that is planted would be considered a variable input

Indicate whether the statement is true or false

Suppose that your college offers you two payment plans for your last two years of college. You may either pay tuition of $20,000 per year at the beginning of each of the next two years, or pay just $38,000 before the start of freshman year. What would the interest rate have to be for you to be indifferent between these two deals? Explain

What will be an ideal response?