In a market system, prices:
A、signal the relative scarcity of a product.
B、are unfair.
C、are too high.
D、all of the above.
A、signal the relative scarcity of a product.
B、are unfair.
C、are too high.
D、all of the above.
A、increase producer surplus.
B、reduce producer surplus.
C、not affect producer surplus.
D、Any of the above are possible.
A、comparative advantage.
B、absolute advantage.
C、self-sufficiency.
D、diminishing returns.
A、people's income
B、people's preferences
C、prices of related goods
D、All of the above are held constant when constructing a demand curve
A、consumer income rises.
B、the prices of other products fall.
C、the price of the product rises.
D、the price of the product falls.
A、hours the customer can buy products each day have increased.
B、number of products in inventory have increased.
C、quantity a consumer is willing to buy changes when the price changes.
D、selling price of the products has not changed.
A、downward sloping and is flatter than an individual's supply curve.
B、upward sloping and is flatter than an individual's supply curve.
C、downward sloping and is steeper than an individual's supply curve.
D、upward sloping and is steeper than an individual's supply curve.
A、the price of pizza will increase.
B、the price of pizza will decrease.
C、the supply will decrease to meet the demand.
D、the demand will increase to meet the supply.
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