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Author Question: Suppose the price of copper and the quantity of copper both rose at the same time. Whatmight be the ... (Read 119 times)

mwit1967

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on: Jun 29, 2018
Suppose the price of copper and the quantity of copper both rose at the same time. Whatmight be the likely explanation of this using supply and demand analysis?
 
  What will be an ideal response?

Question 2

A monopolist is the sole supplier of a good or service for which there are no close substitutes.
 
  Indicate whether the statement is true or false


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dawsa925

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

The likelihood is that the demand for copper rose. This drove up the price but at the same time it pushed the market up and along the supply curve for copper which induced firms to produce more of it.

Answer to Question 2

TRUE


mwit1967

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Reply #2 on: Jun 29, 2018
Correct answers!


dawsa925

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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