The price of a good will fall if
A) there is a surplus at the current price.
B) the current price is less than the equilibrium price.
C) the quantity demanded exceeds the quantity supplied.
D) the price of a complement in consumption falls.
A
Economics
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Market basket B is to the northwest of basket A but lies on the same indifference curve for a consumer. Market basket C also lies to the northwest of A but is above the indifference curve. This consumer
a. prefers C to A. b. is also indifferent between A and C. c. prefers B to A. d. prefers C to B.
Economics
If Libby can produce 20 gallons of beer or 5 gallons of wine per hour, her opportunity cost of one gallon of beer is 4 gallons of wine.
Answer the following statement true (T) or false (F)
Economics