The figure above shows the demand for fruit snacks. Which movement reflects how consumers would react to an increase in the price of a non-fruit snack?
A) from point a to point e
B) from point a to point b
C) from point a to point c
D) from point a to point d
D
Economics
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Ceteris paribus means "Let the buyer beware."
Indicate whether the statement is true or false
Economics
If a farmer produces 1000 bushels of corn using ten acres of land and one tractor and is able to produce 2000 bushels of corn using twenty acres of land and one tractor, the farmer has
A) increasing returns to scale. B) constant returns to scale. C) decreasing returns to scale. D) no returns to scale.
Economics