A decrease in the quantity supplied is represented by a A) ...

[imanialler]

A decrease in the quantity supplied is represented by a
 
  A) movement down the supply curve.
  B) movement up the supply curve.
  C) rightward shift in the supply curve.
  D) leftward shift in the supply curve.

Question 2

Claire and Dag are farmers who produce beef and corn. In a year, Claire can produce 16 tons of beef or 40 bushels of corn, while Dag can produce 5 tons of beef or 25 bushels of corn. The opportunity cost of producing a ton of beef is
 
  A) 10 bushels of corn for Dag and 8 bushels of corn for Claire.
  B) 5 bushels of corn for Dag and 2.5 bushels of corn for Claire.
  C) 20 bushels of corn for Dag and 50 bushels of corn for Claire.
  D) 36.5 days for Dag and 45.6 days for Claire.

[Liddy]

Answer to Question 1

A

Answer to Question 2

B