Author Question: The figure above shows the market for milk. If 250 gallons of milk a day are available, the ________ ... (Read 120 times)

james9437 · **on:** Jun 29, 2018

The figure above shows the market for milk. If 250 gallons of milk a day are available, the ________ price that consumers are willing to pay for the last gallon is ________.

A) maximum; 2.50
B) minimum; 2.50
C) maximum; 3.25
D) minimum; 3.25

Question 2

The price level in India increases from 131 to 137 while its trading partners' price levels remain constant. As a result, people will buy ________ Indian-made goods and there will be a movement ________ along India's aggregate demand curve.

A) more; upward
B) more; downward
C) less; downward
D) less; upward