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Author Question: Which of the following correctly describes the result of a price increase for an inferior good? ... (Read 13 times)

luminitza

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on: Jun 29, 2018
Which of the following correctly describes the result of a price increase for an inferior good?
 
  A) The substitution effect causes the demand for the good to decrease; the income effect causes the demand for the good to increase.
  B) Both the substitution effect and the income effect cause the consumer to buy less of the good.
  C) The substitution effect causes the demand for the good to increase; the income effect causes the demand for the good to decrease.
  D) The substitution effect causes the consumer to buy less of the good and the income effect causes the consumer to buy more of the good.

Question 2

Few firms in the United States are monopolies because
 
  A) when a firm earns profits, other firms will enter its market.
  B) most products that firms produce have substitutes.
  C) few firms experience economies of scale.
  D) of antitrust laws.
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TDubDCFL

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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luminitza

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

CAPTAINAMERICA

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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