This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A country operates inside its production possibilities curve; this may be caused by A) unemployed ... (Read 70 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
on: Jun 29, 2018
A country operates inside its production possibilities curve; this may be caused by
 
  A) unemployed resources.
  B) total efficiency in industry.
  C) a new resource being discovered.
  D) a lack of modern products being produced.

Question 2

Suppose that initially a market is in equilibrium at a price of 10 and a quantity of 5000 units per day. Several months later, the market is in a new equilibrium at a price of 5 and a quantity of 5000 units per day. What happened in the market?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

elizabethrperez

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

For price to fall, either demand had to decrease or supply had to increase, or both. If demand decreased while supply remained constant, the quantity would have decreased too, and if supply increased while demand remained constant, the quantity sold would have increased. Therefore, both demand decreased and supply increased in such a way that the quantity did not change.


Hungry!

  • Member
  • Posts: 1,071
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

jomama

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

This is the first portrait of George Washington, painted by John Gadsby Chapman. Washington’s right This is the first portrait of George Washington, painted by John Gadsby Chapman. Washington’s right
Botulism A rare but serious paralytic illness caused by the bacterium Clostridium botulinum Botulism A rare but serious paralytic illness caused by the bacterium Clostridium botulinum
Cost of Copying for the Follower Country Cost of Copying for the Follower Country
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
Average Annual Growth Rates of Population by Country Group Average Annual Growth Rates of Population by Country Group
A 1000-kg car is slowly picking up speed as it goes around a horizontal unbanked curve whose ... A 1000-kg car is slowly picking up speed as it goes around a horizontal unbanked curve whose ...
Video: Glycolysis - and oxygen

For a complete list of videos, visit our video library