Homework Clinic
Social Science Clinic => Economics => Topic started by: serike on Jun 29, 2018
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In U.S. presidential elections, the winner of the popular vote
A) was always the election winner.
B) lost the election only one time in history.
C) lost the election about 10 percent of the time.
D) lost the election more times than he won the election.
Question 2
In each of the following situations, list what will happen to the equilibrium price and the equilibrium quantity for a particular product, which is a normal good.
a. The price of inputs decrease
b. The price of a complement increases
c. The number of producers in the market increases
d. Income increases
e. The price of a substitute in production increases
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Answer to Question 1
C
Answer to Question 2
a. Price decreases; Quantity increases
b. Price decreases; Quantity decreases
c. Price decreases; Quantity increases
d. Price increases; Quantity increases
e. Price increases; Quantity decreases