The economic function of profits and losses is to:

Price floors and ceiling prices:

Refer to the diagram. If society is currently producing the combination of bicycles and computers shown by point D, the production of 2 more units of bicycles:

In the short run:

Refer to the table. In relation to column (3), a change from column (2) to column (1) would indicate a(n):

Refer to the diagram. Arrows (1) and (3) are associated with:

Which of the following would not be classified as an economic resource by economists?

Jennifer buys a piece of costume jewelry for $33 for which she was willing to pay $42. The minimum acceptable price to the seller, Nathan, was $30. Jennifer experiences:

Which of the following goods (with their respective income elasticity coefficients in parentheses) will most likely suffer a decline in demand during a recession?

If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total utility, this consumer should buy: