10Which of the following would cause the supply curve to shift to the right?The price of cotton increases, so farmers grow more cotton.The price of lead increases; as a result there are fewer pencils produced.The price of apples falls, so consumers purchase more apples.The price of wheat decreases, so more bread is produced.
CONCEPTChanges in Supply and Movements along Supply Curve11Which of the following is an intermediate good?
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2/19/2021Sophia :: WelcomeA tractor used by a farmerCONCEPTFactor Markets12During the Great Recession, many investors purchased gold and other precious metals, thinking they would bereliable forms of investment.If we looked at this phenomenon on a graph, we would see which of the following?Movement down the demand curveMovement up the demand curveShift in demandShift in supplyCONCEPTChanges in Demand and Movements along Demand Curve13Which of the following is an example of an inferior good?
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2/19/2021Sophia :: WelcomeChris just graduated from college and sometimes eats ramen noodles when his finances get tight. After hegets his paycheck, he purchases less ramen noodles as he can afford healthier food.CONCEPTTypes of Goods14As a consumer's income increases, demand for this type of good decreases.The statement above corresponds to which type of good?
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CONCEPTTypes of Goods15When a firm incurs an additional cost to produce one more unit, this is known as which of the following?Per-unit profitMarginal revenueMarginal costFixed cost
2/19/2021Sophia :: Welcome8/10Cost and Benefit Optimization for Producers16Determine which definition below corresponds with ceteris paribus?
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