Author Question: When the price of a normal good decreases, people buy ________ of the good due to ________. A) ... (Read 90 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
When the price of a normal good decreases, people buy ________ of the good due to ________.
 
  A) more; the substitution effect only
  B) more; the substitution and income effects
  C) less; the substitution effect only
  D) less; the income effect only

Question 2

Suppose your neighbor has a beautiful garden. The benefit that she enjoys from her garden is called ________ and the benefit the rest of the neighborhood enjoys is called ________.
 
  A) marginal private benefit; marginal external benefit
  B) private cost; external cost
  C) marginal social benefit; marginal external benefit
  D) marginal external benefit; marginal social benefit



katheyjon

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

For a complete list of videos, visit our video library