Assume the graph shown represents the market for pizzas sold in an hour. Which of the following could be a reason S2 to S1?
A. The price of pizza sauce has increased.
B. The price of pizza went down.
C. The price of labor for pizza shops went down.
D. People just don’t have preferences for pizza anymore.
A. The price of pizza sauce has increased.
Economics
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Refer to Figure 5-1. At the market equilibrium,
A) the marginal cost is less than the marginal benefit. B) the marginal cost is equal to the marginal benefit. C) the marginal cost is greater than the marginal benefit. D) the marginal cost is zero.
Economics
What is the short-run industry supply curve in a perfectly competitive industry?
What will be an ideal response?
Economics