This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Last year a firm made 1,000 units of its product available at a price of 5 per unit. This year the ... (Read 21 times)

TVarnum

  • Hero Member
  • *****
  • Posts: 548
on: Jun 30, 2018
Last year a firm made 1,000 units of its product available at a price of 5 per unit. This year the firm will still make 1,000 units available, but only if the price is 7 per unit. What is most likely to have happened?
 a. Supply has increased
  b. Supply has decreased
  c. Demand has decreased
  d. Quantity demanded has increased
  e. Quantity supplied has increased

Question 2

Which of the following is an example of a pure market economy?
 a. United States
 b. Switzerland
 c. Singapore
 d. No nation has a pure market economy


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jessofishing

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


TVarnum

  • Member
  • Posts: 548
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

essyface1

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe Effects of Therapy for Stuttering A functional MRI scan shows regions of the superior temporal lobe
What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ... What is the current in Figure 16-1(b) if the diode is made of silicon and the polarity of the ...
Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ... Mishu wants to invest an inheritance of $20,000 for one year. His credit union offers 8.85% for ...
Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ... Find the proceeds of the following promissory note. A five-year, $4500.00 note bearing interest ...
GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering
Video: Ear Virtual Tour Animation

For a complete list of videos, visit our video library