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Author Question: S & S Backhoe Service in Ozark, Arkansas rents backhoes and other heavy equipment to local ... (Read 43 times)

jerry coleman

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on: Jun 29, 2018
S & S Backhoe Service in Ozark, Arkansas rents backhoes and other heavy equipment to local construction companies. What determines the demand for backhoes in Arkansas?
 
  A) The rental rate for backhoes
  B) The equilibrium quantity of backhoes
  C) The value of marginal product of backhoes
  D) The maximum number of backhoes available to rent

Question 2

When the price of a normal good rises, the income effect results in ________ in the quantity demanded and the substitution effect results in ________ in the quantity demanded.
 
  A) an increase; an increase
  B) an increase; a decrease
  C) a decrease; an increase
  D) a decrease; a decrease


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briezy

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

C

Answer to Question 2

D


jerry coleman

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

aliotak

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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