April 16, 2014

Homework Help: Social studies

Posted by Jen on Tuesday, March 13, 2012 at 9:11pm.

Which of the following accurately describes a surplus?

Consumer demand for a certain car is below the number of cars that are produced.

The production costs for a certain car are below the sale price of that car.

A car company tries to charge too high a price for a car and has to reduce the price.

A reduction in the cost of steel enables a car company to reduce the sale price of its cars.

Which of the following occurs when someone buys a third winter coat?

Decreasing marginal utility



Efficient production

All of the following factors affect the level of wages except which of the following?

The law of supply and demand.

Minimum-wage laws.

The actions of labor unions.

The production possibilities frontier.

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