Author Question: If good growing conditions increase the supply of strawberries and hot weather increases the demand ... (Read 67 times)

CharlieWard · **on:** Jun 29, 2018

If good growing conditions increase the supply of strawberries and hot weather increases the demand for strawberries, the quantity of strawberries bought ________.

A) increases and the price might rise, fall or not change
B) increases and the price rises
C) doesn't change and the price falls
D) doesn't change and the price rises

Question 2

If an economist were to consult for a major Fortune 500 company, and he reached the conclusion the firm was making zero economic profit,

A) the firm's accounting profit would be greater than zero.
B) the firm should go out of business immediately.
C) the firm's accounting profits would be lower.
D) the economist's numbers were probably wrong because economic profit can never be zero.