Author Question: The price of a new textbook increases from 75 to 90 while the price of used copies of the textbook ... (Read 73 times)

darbym82 · **on:** Jun 29, 2018

The price of a new textbook increases from 75 to 90 while the price of used copies of the textbook increases from 50 to 65. Other things equal, we would expect to observe

A) the quantity demanded of the used textbook to increase while the quantity demanded of the new textbook to fall.
B) the quantity demanded of both to fall.
C) the demand for the new textbook to increase while the demand for the used textbook to decrease.
D) the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase.

Question 2

In economics, resources are also known as

A) minerals.
B) factories.
C) factors of production.
D) human capital.