The ________ plots the relationship between prices and the quantity producers are willing to sell
A) isoquant B) indifference curve C) demand curve D) supply curve
D
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Shaniq buys only soda and pizza and is buying the amounts that maximize her utility. The marginal utility from a soda is 30 and the price of a soda is $2. The marginal utility from a slice of pizza is also 30. The price of a slice of pizza must be
A) $30. B) $2. C) $1. D) some amount that cannot be calculated without more information.
Most economists believe that changes in the price level have
A) no effect on the quantity of output supplied in either the short run or the long run. B) an effect on the quantity of output supplied in the short run, but not in the long run. C) an effect on the quantity of output supplied in the long run, but not in the short run. D) an effect on the quantity of output supplied in both the short run and the long run.