According to the law of demand, if the price of movie rentals decreases, ceteris paribus,:
a. the demand for movie rentals would increase.
b. the quantity demanded of movie rentals would decrease.
c. the quantity demanded of movie rentals would increase.
d. the demand for movie rentals would decrease.
e. the quantity demanded of movie rentals would not change.
Question 2
The law of increasing opportunity costs implies that a society's production possibilities curve will be a straight line.
a. True
b. False
Indicate whether the statement is true or false
Species richness decreases with distance from the source pool.
Atmospheric pressure decreases with increase in altitude.
Growth in the demand for oil from the developing world
The original Supply and Demand graph
"The Department of Agriculture came out today with its prediction for food price
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.