Author Question: Changes in which of the following shifts the supply curve of hamburgers? A) a rise in the price ... (Read 92 times)

piesebel · **on:** Jun 29, 2018

Changes in which of the following shifts the supply curve of hamburgers?

A) a rise in the price of soda, a complement for hamburgers
B) new research that establishes a link between hamburgers and heart problems
C) an increase in the price of meat used to produce hamburgers
D) an economy-wide decrease in income because of a long recession

Question 2

If business firms do not have to generate revenues sufficient to cover their sunk costs, does anyone have to pay for mistaken decisions?

A) No, because sunk costs are irrelevant.
B) No, because the past cannot be undone.
C) Only if they value their integrity or credit standing.
D) The entire economy ends up paying.
E) Yes. The people who committed resources to mistaken decisions pay the costs.