« previous next »

Author Question: If the quantity of soccer balls demanded is represented by the demand equation QD = 80 - 2P, then to ... (Read 56 times)

tsand2

  • Hero Member
  • *****
  • Posts: 520
on: Jun 29, 2018
If the quantity of soccer balls demanded is represented by the demand equation QD = 80 - 2P, then to solve for the price of soccer balls, the equation would be rewritten as
 
  A) P = 40 - 0.5QD. B) P = 1.6QD + 80. C) P = 80 - QD. D) P = QD + 160.

Question 2

Because apples and oranges are substitutes, an increase in the price of oranges will cause the demand for apples to increase.
 
  This initial shift in demand for apples results in a higher price for apples; this higher price will cause the demand curve for apples to shift to the right. Which of the following correctly comments on this statement?
  A) The statement is false because oranges are inferior goods; apples are normal goods.
  B) The statement is false because one cannot assume that apples and oranges are substitutes for all consumers.
  C) The statement will be true if consumer tastes for apples and oranges do not change.
  D) The statement is false because a change in the price of apples would not change the demand for apples.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


cswans24

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
How to find the equation of a line that is parallel to a line passing through a point How to find the equation of a line that is parallel to a line passing through a point
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Find a quadractic equation that models the data in standard form Find a quadractic equation that models the data in standard form
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Wound Care

For a complete list of videos, visit our video library