This Application illustrates how a change in weather conditions can adversely impact the ________ by ________ the price of a good
A) demand; decreasing B) supply; decreasing
C) demand; increasing D) supply; increasing
D
Economics
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The physical and mental effort people use to produce goods and services is a description of which factor of production?
A) physical capital B) labor C) entrepreneurship D) human capital
Economics
Refer to Figure 13-14. Which of the following statements describes the firm depicted in the diagram?
A) The firm is making no economic profit and will exit the industry. B) The firm is in long-run equilibrium and is breaking even. C) The firm is suffering an economic loss by producing at Q0 but will break even if it increases its output to Q1. D) The firm achieves productive efficiency by producing at Q0.
Economics