The above figure shows the market for pizza. Which figure shows the effect of an increase in the price of the tomato sauce used to produce pizza?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
C
Economics
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Which of the following statements about a price system is TRUE? I. Prices ration goods and services. II. Prices indicate relative scarcity
A) I only B) II only C) Both I and II D) Neither I nor II
Economics
A decrease in labor productivity will increase marginal cost
Indicate whether the statement is true or false
Economics