Explain why does the demand curve slope downward and why does
the supply curve slope upward and briefly describe what are the
factors causing a movement along or a shift in each curve
why does the demand
curve slope downward?
It means that as prices rise,
Assume that the leather market is a perfectly competitive market. The market demand curve for leather is
_ and each individual leather producers demand curve is _.
Introduction to Electricity and Magnetism
Assignment #6 (Current, Power, Resistance)
Due: February 25th, 2015
1) A Car battery delivered 300 A constant current to the starter for 2 seconds
when the car was started.
(a) How much charge went
The law of diminishing marginal returns states:
As a firm uses more of a variable factor of production, with a given quantity of the fixed
factor of production, the marginal product of the variable factor eventually diminishes.
As a firm uses more of a va
Producer surplus is
equal to the area under the supply curve.
the difference between the maximum price consumers are willing to pay and the
minimum price producers are willing to accept.
the total amount paid for the good.
the price received for a good mi
cWhich one of the following is not true in consumer equilibrium?
A The marginal utility per dollar is equal for all goods
Given prices and her income, the consumer finds that any other choice of
goods to consume would lower her utility
C The consume