When oranges increase in price, the income effect
A) decreases the consumption of oranges only if oranges are a normal good.
B) decreases the consumption of oranges only if oranges are an inferior good.
C) always increases the consumption of oranges.
D) always decreases the consumption of oranges.
Question 2
The LRAC curve
A) is the minimum points on all the short-run ATC curves.
B) shows the lowest possible marginal cost of producing the different levels of output.
C) shows the lowest attainable average total cost for all levels of output when all inputs can be varied.
D) generally lies above the short-run ATC curves.
A hypothetical example of the bottleneck effect.
The Greenhouse Effect
effect of light on plant
Habituation to the Aversive Effect of the Odor of Pups
Global Stratification: Income of the World's Nations
Effect of an Increase in Technological Progress