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Author Archives: Anonymous

A price ceiling set by the government will most likely make…

A price ceiling set by the government will most likely make which market structures less economically efficient? (Check all that apply.)

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Based on the information in the above table, when price chan…

Based on the information in the above table, when price changes from $2 to $1 demand is:

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Based on the PPF shown in this graph, Point __ represents an…

Based on the PPF shown in this graph, Point __ represents an efficient use of resources, Point __ represents an inefficient use of resources, and Point __ represents a production combination that is not possible.

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If the Price of X = $1 and the Price of Y = $2, then how man…

If the Price of X = $1 and the Price of Y = $2, then how many units of Good Y should be purchased if Income = $17?

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For _____ theory of oligopoly, even if marginal cost changes…

For _____ theory of oligopoly, even if marginal cost changes, the profit maximizing quantity of output can remain the same.

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When the price of product R increases from $35 to $37, the q…

When the price of product R increases from $35 to $37, the quantity demanded of product S increases from 13,000 to 15,500. Based on this, the cross elasticity of demand of products R and S is _____ and these two products are _____.

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Check all of the following that can be considered “labor”:

Check all of the following that can be considered “labor”:

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An increase in the price of a product will ultimately cause…

An increase in the price of a product will ultimately cause a(n) _____ in equilibrium price and a(n) _____ in equilibrium quantity in the labor market of workers that produce that product.

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When the price of product R increases from $43 to $46, the q…

When the price of product R increases from $43 to $46, the quantity demanded of product S increases from 13,000 to 15,500. Based on this, the cross elasticity of demand of products R and S is _____ and these two products are _____.

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When a tax is imposed on a supplier and demand is perfectly…

When a tax is imposed on a supplier and demand is perfectly elastic, there will be _____ in equilibrium quantity and _____ in equilibrium price.

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