1-Which of the following would cause the supply curve to shift to the right?
1-Which of the following would cause the supply curve to shift to the right?
An increase in the price of the product.
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Order Paper NowAn improvement in technology.
an increase in taxes
An increase in production costs.
2-A positive statement is
an opinion
can be shown to be correct or incorrect.
based upon what can be demonstrated to be true.
a value judgement.
3-If you consume pasta every day of the week, its marginal utility is bound to ________ at the end of the week, ceteris paribus, and this demonstrates the law of ________.
Increase; Diminishing Marginal Utility
Decline; Diminishing Marginal Utility
Decrease; Total Utility
Increase; Increasing Marginal Utility
4-A demand curve shows the graphical relationship between price and
costs.
revenues received
quantity demanded.
quantity produced.
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