Supply Curve
What will be an ideal response?
A graph of the relationship between the price of a good and the quantity supplied.
Economics
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Suppose that Apple computer buys computer components for $10,000 and uses them to make ipods that they sell to Best Buy for $30,000 . Best Buy sells these ipods for $32,000 . As a result, GDP has risen by:
a. $22,000 b. $2,000 c. $20,000 d. $32,000
Economics
Any factor that shifts the demand curve to the left but does not affect the supply curve will lower the equilibrium price and raise the equilibrium quantity
a. True b. False Indicate whether the statement is true or false
Economics