« previous next »

Author Question: In February, market analysts predict that the price of titanium will rise in March. What happens in ... (Read 147 times)

xclash

  • Hero Member
  • *****
  • Posts: 681
on: Jun 29, 2018
In February, market analysts predict that the price of titanium will rise in March. What happens in the titanium market in February, holding everything else constant?
 
  A) The quantity of titanium demanded and the quantity of titanium supplied both increase.
  B) The supply curve shifts to the right.
  C) The supply curve shifts to the left.
  D) The demand curve shifts to the left.

Question 2

Will equilibrium in a market always result in an outcome that is economically efficient? Explain.
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


moormoney

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

An economically efficient outcome means that at the equilibrium price the marginal benefit of the last unit of output sold is equal to its marginal cost. This will occur only in markets that are competitive (many buyers and many sellers) and there are no price controls.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
Sunlight shining through clouds, giving rise to crepuscular rays. Sunlight shining through clouds, giving rise to crepuscular rays.
A rise in global temperature of more than 3˚C A rise in global temperature of more than 3˚C
The Nile Delta will be strongly affected by a rise in sea level of 50 cm The Nile Delta will be strongly affected by a rise in sea level of 50 cm
Price of Computers, 1982–2010 Price of Computers, 1982–2010
March 22, 2023 March 22, 2023
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library