Explain the difference between a change in quantity supplied and a change in supply
What will be an ideal response?
A change in quantity supplied of a product is caused by a change in the price of the product. It is represented by a movement along the product's supply curve. A change in supply of a product is caused by a change in a variable other than the price of the product. It is represented by a shift of the supply curve.
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A perfect-price-discriminating monopoly's marginal revenue curve
A) lies below the demand curve. B) is the demand curve. C) varies for each consumer. D) is the same as the monopolist's marginal revenue curve.
Privatization requires
a. transparency b. the training of competent managers c. the installation of adequate facilities for transportation d. All of the answers are correct e. None of the answers is correct