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

Author Question: In an indifference curve/budget line diagram, generally when the price of a good increases, the ... (Read 88 times)

hubes95

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
In an indifference curve/budget line diagram, generally when the price of a good increases, the consumer purchases ________ of the good and moves to a ________ indifference curve.
 
  A) less; lower
  B) less; higher
  C) more; lower
  D) more; higher

Question 2

In a perfectly competitive market that is in long-run equilibrium, which of the following will NOT occur?
 
  A) Firms make only zero economic profit.
  B) Firms' owners earn a normal profit.
  C) The price equals the minimum average total cost.
  D) Entrepreneurs want to enter this industry.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


hubes95

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Excellent

nothere

  • Member
  • Posts: 324
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa
The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy
Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken Three days after the Boston Marathon explosion, the FBI released this photograph that had been taken
Alan Price - Poor People Alan Price - Poor People
Humburger is a good source of niacin , vitamin B6 and pantothenic acid Humburger is a good source of niacin , vitamin B6 and pantothenic acid
Prevalence of good health in Canadians aged 65 years and older Prevalence of good health in Canadians aged 65 years and older
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library