If the United States placed an embargo on Swedish products, what would happen in the U.S. market for Swedish furniture?
A) The demand curve would shift to the right. B) The supply curve would shift to the right.
C) The supply curve would shift to the left. D) The demand curve would shift to the left.
Question 2
Mrs. Lovejoy decides to invest in companies which she believes are producing its goods based on the preferences of consumers. Mrs. Lovejoy is investing in companies that are
A) always going to be profitable. B) allocatively efficient.
C) productively efficient. D) both productively and allocatively efficient.
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Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...