If the number of sellers decreases, the
A. supply curve will shift to the right.
B. demand curve will shift to the right.
C. demand curve will shift to the left.
D. supply curve will shift to the left.
Answer: D
Economics
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If the price of gasoline increases from $2.50 per gallon to $3
00 per gallon and the quantity demanded goes down from 120 million gallons per week to 115 million gallons per week, the absolute value of price elasticity of demand in that price range is approximately A) 0.23. B) 4.35. C) 0.93. D) 2.34.
Economics
Production possibilities curve analysis includes the idea of:
a. opportunity cost. b. scarcity. c. maximum production choices. d. all of these.
Economics