Which of the following is an essential feature of any economic system?
a. absolute advantage
b. the profit motive for producers
c. a voting procedure for choosing leaders
d. prices determine resource allocation
e. scarce resources
E
Economics
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Refer to Table 13-2. What is Eco Energy's profit?
A) $125 B) $140 C) $145 D) $150
Economics
What would happen if you decreased the price to $2 and decreased the quantity supplied to 4,000 pounds?
a. You would create a shortage.
b. You would maintain the same surplus.
c. You would reach equilibrium.
d. You would reduce the surplus.
Economics