From a supply perspective, what impact would an increase in the price of motorcycles have on the market for motorcycles?

What will be an ideal response?

An increase in the price of motorcycles would generate an increase in the quantity of motorcycles supplied in the market.

Economics

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According to the text, on a kibbutz in Israel

a. farmers produce oranges no matter what the price b. members are not profit maximizers c. there is no link between an individual's effort and reward d. universal equality is seen as unrealistic e. high-tech manufacturing is not feasible

Economics

The Coase Theorem states that:

a. bargaining between producers and consumers leads to an efficient outcome when costs are low. b. bargaining between producers and consumers leads to an efficient outcome when costs are high. c. property rights should be assigned to the producers causing the externality d. property rights should be divided between the consumers affected by the externality.

Economics