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Given a demand and supply curve, if there is excess demand in a market, we can expect that:
A. prices will rise because some suppliers will find it in their interest to raise prices. B. the demand curve will shift to the right to restore equilibrium. C. the demand curve will shift to the left to restore equilibrium. D. prices will fall because some suppliers will find it in their interest to lower prices I think this is A A promise by a Presidential candidate for more funding for cancer research and police enforcement without sacrifice: A. is possible only in a fully employed economy. B. is impossible in all cases. C. is possible if the economy is producing on its production possibility curve. D. may be possible if the economy has unemployed resources. C? If there were increasing marginal opportunity costs, the production possibility curve would be: A. straight. B. bowed outward. C. bowed inward. D. flat. This one I just forgot ... I know it's B or C though Suppliers will supply more of a good when the price of that good rises because the opportunity cost for producing that good has risen. True ctfdacow False
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11/3/2011 10:42 PM
http://answers.yahoo.com/question/index?qid=20100707181044AADccTs
False?
1 year ago ( 2010-07-08 01:10:44 +0000 ) Report Abuse
Asker's Rating: once again you were correct just not in time, thanks! jerry w Search Yahoo! for
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11/3/2011 10:42 PM
http://answers.yahoo.com/question/index?qid=20100707181044AADccTs
The answers are 1.C, Jerry is right. It won't shift the supply curve. 2.A, excess demand means price is too low. 3.D, it is an obligation of the government during recession to increase spending, and stimulus package. 4.B.It should be concave and downward to represent increasing opportunity cost. On the contrary, the indifference curves are bowed inward mostly. 5. false,the value of the goods that are forgone is decreasing. Jerry is mostly right.
Source(s):
wikipedia.org\the opportunity cost.
1 year ago ( 2010-07-08 02:59:10 +0000 ) Report Abuse
Anjaree
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11/3/2011 10:42 PM