Dramatic reductions in costs of producing computers in the 1980s and equally dramatic increases in the demand for computers result in
A. increases in the quantity and price for computers.
B. increases in the quantity of computers and reductions in the price of computers.
C. decreases in the price and quantity of computers.
D. decreases in the quantity of computers and increases in the price of computers.
Ans: B. increases in the quantity of computers and reductions in the price of computers.
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If the price of automobiles were to increase substantially, the demand curve for gasoline would most likely
A) shift leftward. B) shift rightward. C) remain unchanged. D) become steeper.
One lesson of business:
a. is tracing the consequences of a policy b. promoting a policy change to eradicate inefficiencies c. buy a low-valued assets and sell it to someone who values it higher. d. None of the above