Status
Exam
The Short-Run Macroeconomic Model
is very similar to the standard model
for markets. In what ways are these
two models similar?
A. downward sloping Supply Curve
B. upward sloping Supply Curve
C. no Demand Curve
The rybczynski theorem describes: (a) how commodity price changes influence real factor rewards (b) how commodity price changes influence relative factor rewards. (c) how changes in factor endowments cause changes in commodity outputs. (d) how trade leads to factor price equalization.
Braden’s ice cream shop is losing business. he knows that customers are no longer choosing his product because a competing product has become less expensive, yet he has refused to lower his prices. what has happened to braden’s business?