Who stands to gain as a result of unanticipated inflation?

If there are zero implicit costs, accounting profits _________economic profits

a. Are greater than b. Are equal to c. Are less than d. Have no inherent relationship to

Figure 3-3

In , if the initial demand for margarine were D₁, the impact of a decrease in the price of butter, a substitute good for margarine, would be illustrated as
a.
a shift in the demand curve to D₂.
b.
a shift in the demand curve to D₃.
c.
a movement downward to the right along the original demand curve D₁.
d.
none of the above.