Why is the supply curve vertical in this graph?
a. Q1 is fixed.
b. The movement from P1 to P2 is slight.
c. The movement from P1 to P2 is more than 10 percent.
d. Q1 increases upwards, not horizontally.
a. Q1 is fixed.
You might also like to view...
Net exports of goods and services increase when
A) exports of goods and services decrease and imports of goods and services do not change. B) consumption expenditure increases. C) exports of goods and services increase and imports of goods and services do not change. D) consumption expenditure decreases. E) imports of goods and services increase and exports of goods and services do not change.
On average, people in the United States spend a smaller percentage of their income on health care than do people in most other countries
Indicate whether the statement is true or false