Economics

The equilibrium price of hot dog buns would increase and the quantity of hot dog buns sold would increase

If the price of hot dogs were to decrease, which of the following changes would we expect to occur in the hot dog bun market? A) The equilibrium price of hot dog buns would decrease and the quantity of hot dog buns sold would increase. B) The equilibrium price of hot dog buns would increase and the quantity of hot dog buns sold would decrease. C) The equilibrium price of hot dog buns would increase and the quantity of hot dog buns sold would increase. D) The equilibrium price of hot dog buns would decrease and the quantity of hot dog buns sold would decrease. E) The equilibrium price of hot dog buns would stay the same and the quantity of hot dog buns sold would increase.

Anna works harder, because her tips are her private property.

Sonia works at a restaurant where tips are pooled and divided equally. Anna works at a different restaurant where she keeps the tips her customers leave for her. Which of the following is true?

Private Ownership

is the primary reason that explains why some nations are richer than the others.

Supply Schedule

the relationship between prices and the corresponding quantities supplied is shown in a A) Supply Schedule B)demand Schedule C)price-earning ratio d) production possibilities curve E) total output schedule