Assume that in recent years the cost of producing microbrew beer in the U.S. has decreased largely due to technological improvements. At the same time, more and more Americans prefer microbrew beer over wine.
Which of the following best explains the effect of these events in the microbrew beer market?
A) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in both the equilibrium price and the equilibrium quantity.
B) Both the supply and demand curves have shifted to the right. As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
C) The supply curve has shifted to the left and the demand curve has shifted to the right. As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.
D) The supply curve has shifted to the right and the demand curve has shifted to the left. As a result there has been a decrease in the equilibrium quantity and an uncertain effect on the equilibrium price.
Question 2
What is accounting profit?
A) gross revenue minus explicit and implicit costs B) the same as economic profit
C) gross revenue minus implicit costs D) gross revenue minus explicit costs
(a) Age of maturity of Atlantic cod decreased during the fishery collapse. (b) Evidence of maturatio
To examine a child’s ear, the pinna should be pulled back and up for children over 3 years; the pinn
Extinction and extirpation per years
Infant formula is available in several forms and varies in cost and ingredients
question in cost accounting
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.