Refer to the accompanying figure. An increase in demand is represented by a shift from:
A. curve C to curve D.
B. curve D to curve C.
C. curve B to curve A.
D. curve A to curve B.
Answer: A
Economics
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The marginal revenue of a monopolistically competitive firm
A) will equal average revenue. B) cannot be negative because the price the firm charges will always be greater than zero. C) can be negative if the firm charges a high price. D) can be negative if the firm charges a low price.
Economics
Which economic concept does the expression "time is money" reflect?
a. opportunity cost b. specialization c. market exchange d. comparative advantage e. efficiency
Economics