An example of an intermediate good would be
A) the soda pop sold by Quiznos.
B) the bread that goes into a sub sandwich that is sold by Quiznos.
C) the potato chips sold by Quiznos.
D) a sub sandwich sold by Quiznos.
B
Economics
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We observe evidence of a shortage when we see
A) the quantity purchased is greater than the quantity supplied. B) the quantity purchased is less than the quantity supplied. C) nonmonetary costs of acquisition have risen. D) goods have becomes more scarce. E) prices have increased suddenly and substantially.
Economics
The figure above shows the market for milk. The ________ price that producers must be offered to get them to produce 100 gallons of milk per day is ________
A) maximum; $2.50 B) minimum; $3.00 C) maximum; $4.00 D) minimum; $2.50
Economics