When the market supply curve shifts inward-consumer surplus

Assignment Help Business Economics

Reference no: EM13818499

1. Everything else equal, when the market supply curve shifts inward, consumer surplus

a. increases.

b. decreases.

c. does not change.

d. either increases or decreases.

2. Everything else equal, given an upward sloping supply curve, if the market demand curve were to shift outward, producer surplus

a. increases

b. decreases

c. does not change

d. either increases or decreases.

Reference no: EM13818499

Questions Cloud

Rest of the amount was financed : As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest..

How to determine the individual variables : How do I determine the values for P,D,Q for an ARIMA model? I have already done the differencing; I am having trouble understanding how to determine the individual variables.

Monopolistic competition market structure : Robert has a passion for making ice cream. Assume that ice cream parlors have a monopolistic competition market structure. Between the local Amy's, Cold Stone Creamery, Marble Slab, Ben & Jerry's and Baskin Robbins, he has an uphill battle to break i..

Suppose one economist believes target rate of unemployment : Suppose one economist believes the target rate of unemployment is 4.2 percent while another believes it is 5.3 percent. Using Okun’s rule of thumb, by how much would you expect their estimates of potential GDP to differ in an $11 trillion economy?

When the market supply curve shifts inward-consumer surplus : Everything else equal, when the market supply curve shifts inward, consumer surplus. Everything else equal, given an upward sloping supply curve, if the market demand curve were to shift outward, producer surplus

Short-run supply curve of competitive industry is derived : The short-run supply curve of a competitive industry is derived by. Along the long-run supply curve of an increasing-cost industry that is characterized by perfect competition, all of the following can vary except. For the case of an increasing-cost ..

Capital intensive and capital abundant : Countries A and B have two factors of production, capital and labour, with which they produce two goods, X and Y. Technology is the same in both countries. X is capital intensive; A is capital abundant.

Assume interest is compounded monthly : Sam promises to pay Sandy $2,000 in four years and another $3,000 four years later for a loan of $2,000 from Sandy today. What is the interest rate that Sandy is getting? Assume interest is compounded monthly.

Interest rates and exchange rates : As we observed in this chapter, central banks, rather than purposefully setting the level of the money supply, usually set a target level for a short-term interest rate by standing ready to lend or borrow whatever money people wish to hold at that in..

User Account

All Pages