Refer to Figure 4.3. All else equal, a decrease in the desire of households to consume today accompanied by an increase in corporate taxes would cause which of the following shifts?
A) S1 to S2 and D1 to D2
B) S2 to S1 and D1 to D2
C) S1 to S2 and D2 to D1
D) S2 to S1 and D2 to D1
C
Economics
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Blank DVDs and prerecorded DVDs are substitutes in production. An increase in the price of a blank DVD will lead to
A) an increase in the supply of prerecorded DVDs. B) a decrease in the supply of prerecorded DVDs. C) an increase in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs. D) a decrease in the quantity supplied of prerecorded DVDs but not in the supply of prerecorded DVDs.
Economics
The cost of building a blast furnace for an iron and steel firm would be categorized as a: a. total cost
b. fixed cost. c. variable cost. d. marginal cost.
Economics