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Author Question: Would a change in the price of in-line skates cause a change in the supply of in-line skates? Why or ... (Read 160 times)

moongchi

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on: Jun 29, 2018
Would a change in the price of in-line skates cause a change in the supply of in-line skates? Why or why not?
 
  What will be an ideal response?

Question 2

Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
 
  A) health care is nonrivalrous and nonexcludable. B) health care generates negative externalities.
  C) health care is a public good. D) health care generates positive externalities.


jazzlynnnnn

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Reply #1 on: Jun 29, 2018
Answer to Question 1

No, a change in the price of in-line skates would not cause a change in the supply of in-line skates. Rather, it would cause a change in the quantity supplied. Supply changes only when there is a change in any variable other than the price that would affect the supply of the good in question.

Answer to Question 2

D


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