Question

e she disgram. Ir society is currensly resouces r fulilty slready mpleed D) wil A) point F is unattainable, given eurenaly available resoarces C) point G represents combination of blkycles and cause sonme resources to become unempleyed Refer to the diagram at the right Which of the following is TRUET is attainable, bu consumers do not want given their current tastes and preferences D) the combination of 4 computers and 4 bicycles achleves 34. Which of the follow is NOT true: A) total utility is maximam where marginal utility-o B) ay between two goods that are complements C) allocative efficiency occurs at the output where D) self i benefit (MB)- marginal cent (MC). interest promotes competition and competition forces peoducers to be both efficient and 35, 33. When deciding which goods to produce, firms generally chose to produce the products that are mot profitable Suppose an industry is realizing substantial economic losses. Which of the following best describes the adjustment process that would likely take place? A) firms will leave the industry, supply will decrease, and the product price will rise. B) firms will enter the industry, supply will increase, and the product price wi El C) firms will leave the industry, demand will increase, and the product price will rise. D) firms will leave the industry, quantity demanded will increase, and the product price will rise. 36. Refer to the dingram at the right. An "increase in supply" is depicted by a: A move from point X to point Y B) shift from Si to S C) shift from S to S D) move from point Y to point X. 7. Amazon raises its subscription rate on its Amazon Prime service and finds that the higher price leads to an increase in total subscription revenue. The total revenue test would imply that for Amazon Prime: A) price elasticity of demand (E) is elastic. B) price elasticity of demand (E4) is I C) price elasticity of demand (Ea) is unitary elastic D) price elasticity of supply (E.) is negative. Suppose demand for a product is given as D-39-6P and supply is represented as S-7+10P. Which of the following is correct: A) B) C) D) equilibrium price is S16 and equilibrium quantity is 32. equilibrium price is $2 and equilibrium quantity is 27 equilibrium price is $4 and equilibrium quantity is 21 equilibrium price is $32 and equilibrium quantity is 16. efer to the diagram to the right. Which line(s) show(s) a positive or direct lationship between variables X and Y? 아 A) all but C B) A, D, and E C) A, B, and D. D) both C and E.