Refer to Figure 17-1. Suppose the market price of doilies rises to $3. What happens to the curve given in the diagram?
A) There will be a movement along the curve.
B) Nothing, because labor's productivity has not changed.
C) The curve shifts to the right.
D) We cannot answer the question without knowing if Dale would want to hire more workers.
C
Economics
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During the twentieth century, a primary driver of the expansion of the U.S. income tax system has been _____
a. westward expansion b. natural disasters c. military conflict d. withholding
Economics
A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. At its profit maximizing output level, the monopoly's average cost is
A) 11. B) 13. C) 17. D) 21.5.
Economics