Tim Tupper Contracts with Two Other Students to Help Him

question 88

Multiple Choice

Tim Tupper contracts with two other students to help him provide a term paper-typing service.In the last two weeks of the semester, he sees a tremendous increase in demand.His profit-maximizing response would be represented by

• A)a rightward shift of the supply curve because it is possible to earn economic profits
• B)a rightward shift of the supply curve because the increase in demand is probably only temporary
• C)a reduction in supply to take full advantage of the increase in demand
• D)a movement up to the right along the supply curve because the increase in demand is probably only temporary
• E)an upward movement in horizontal demand curve he faces because now he can charge a lower price

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Definitions:

Previously Held Attitudes

Beliefs or opinions that an individual had before being exposed to new information or experiences.

Arguing Against

The process of presenting reasons or evidence to counter or dispute a particular claim, opinion, or proposition.

Halo Effect

A cognitive bias where the perception of one positive trait (such as attractiveness) leads to unjustified positive evaluations of other traits (such as intelligence).

Attractive Woman

A female individual who is found aesthetically pleasing or appealing according to societal or personal standards of beauty.