The law of supply and demand asserts that
a. demand curves and supply curves tend to shift to the right as time goes by.
b. the price of a good will eventually rise in response to an excess demand for that good.
c. when the supply curve for a good shifts, the demand curve for that good shifts in response.
d. the equilibrium price of a good will be rising more often than it will be falling.
b
Economics
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Consumption goods are
A) a form of investment. B) goods purchased from savings. C) a form of capital goods. D) goods purchased by households to be used immediately.
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In the short run, a perfectly competitive firm can earn: a. positive economic profits. b. zero economic profits
c. negative economic profits. d. any of the above.
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