The current market price for good X is below the equilibrium price, and then the demand curve for X shifts rightward. What is the likely outcome of the demand shift?
A) The surplus increases.
B) The surplus decreases.
C) The shortage increases.
D) The shortage decreases.
Question 2
The substitution effect of a decrease in the wage will
A) decrease leisure, regardless of whether leisure is a normal or inferior good.
B) increase leisure, regardless of whether leisure is a normal or inferior good.
C) increase leisure only if leisure is a normal good.
D) decrease leisure only if leisure is a normal good.
Four Arch Curve
An Oil-dependent World— Supply and Demand Driven
Oxygen dissociation curve
Drug tolerance: A shift in the dose-response curve to the right as a result of exposure to the drug.
What is the current flowing through the resistor?
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...