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Author Question: Last year a firm made 1,000 units of its product available at a price of 5 per unit. This year the ... (Read 59 times)

TVarnum

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on: Jun 30, 2018
Last year a firm made 1,000 units of its product available at a price of 5 per unit. This year the firm will still make 1,000 units available, but only if the price is 7 per unit. What is most likely to have happened?
 a. Supply has increased
  b. Supply has decreased
  c. Demand has decreased
  d. Quantity demanded has increased
  e. Quantity supplied has increased

Question 2

Which of the following is an example of a pure market economy?
 a. United States
 b. Switzerland
 c. Singapore
 d. No nation has a pure market economy


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jessofishing

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


TVarnum

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

cdmart10

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Reply 3 on: Yesterday
Excellent

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