Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) the demand for personal trainers has increased.
B) personal trainers are deliberately charging high prices because they provide services for wealthy clients.
C) the number of personal trainers has increased.
D) the law of demand has been violated.
A
Economics
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When the price rises and the supply curve does not shift, the firms' producer surplus ________. When the price falls and the supply curve does not shift, the firms' producer surplus ________
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases E) does not change; does not change
Economics
The fact that wants cannot be fully satisfied with available resources reflects the definition of
A) the what tradeoff. B) scarcity. C) the big tradeoff. D) for whom to produce.
Economics