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Author Question: When the price of audio books, a normal good, falls, causing your purchasing power to rise, you buy ... (Read 243 times)

serike

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When the price of audio books, a normal good, falls, causing your purchasing power to rise, you buy more of them due to
 
  A) the deadweight loss effect. B) the elasticity effect.
  C) the income effect. D) the substitution effect.

Question 2

Which of the following is an example of a long-run adjustment?
 
  A) Wal-Mart builds another Supercenter.
  B) A soybean farmer turns on the irrigation system after a month long dry spell.
  C) Your university offers Saturday morning classes next fall.
  D) Ford Motor Company lays off 2,000 assembly line workers.


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Leostella20

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serike

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


bigcheese9

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

 

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