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Author Question: If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the ... (Read 210 times)

K@

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  • Posts: 608
on: Jun 29, 2018
If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the equilibrium
 
  A) price of bikes definitely increases.
  B) price of bikes definitely decreases.
  C) quantity of bikes definitely increases.
  D) quantity of bikes definitely decreases.

Question 2

The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's economic profit in the long run is
 
  A) zero.
  B) 600.
  C) 900.
  D) 2,400.


zogaridan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


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