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

Author Question: If the price of beef jerky rises, the substitution effect due to the price change will cause A) ... (Read 181 times)

jwb375

  • Hero Member
  • *****
  • Posts: 540
on: Jun 29, 2018
If the price of beef jerky rises, the substitution effect due to the price change will cause
 
  A) an increase in the demand for hot sauce, a complement for beef jerky.
  B) a decrease in the quantity of beef jerky demanded.
  C) an increase in the quantity of beef jerky demanded.
  D) an increase in the demand for beef jerky.

Question 2

Why don't the winners from free trade win the political argument?
 
  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

katheyjon

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Trade restrictions are enacted despite the inherent inefficiency because of the political actions of rent seeking groups, which fear that foreign competition might have a negative impact on their industry, firm, or jobs. The anti-trade groups are easily organized and have much to gain from trade restrictions, whereas the vast millions of consumers, who would win from free trade, are difficult to organize because each individual has only a small amount of loss when trade restrictions are imposed. Hence the winners from trade restrictions frequently out-lobby the winners from free trade.


jwb375

  • Member
  • Posts: 540
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1 The Role of Microfilaments in Cell Movement-Showing Cause and Effect in Biology 1
Effect of changing a set point for hypothalamic values Effect of changing a set point for hypothalamic values
Drag the labels to indicate the change in the size of the reservoir. . . Drag the labels to indicate the change in the size of the reservoir. . .
Effect of Landfall Effect of Landfall
Rock cores as indicators of environmental change Rock cores as indicators of environmental change
compton effect compton effect
Video: Bone cells and tissues - tissue composition and cells

For a complete list of videos, visit our video library