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Author Question: What are substitutes in production? What will be an ideal ... (Read 67 times)

stevenposner

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on: Jun 29, 2018
What are substitutes in production?
 
  What will be an ideal response?

Question 2

Neuroeconomics is
 
  A) the study of the activity of a human brain when the person makes economic decision.
  B) the study of how people behave when they face scarcity.
  C) the study of situations in which people act economically irrationally.
  D) the study of how people make decisions at the margin.


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Sierray

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

Goods are substitutes in production when one good can be produced in place of the other, that is, when the goods are produced using the same resources.

Answer to Question 2

A


stevenposner

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Reply #2 on: Jun 29, 2018
Thank you


Sierray

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Reply #3 on: Jun 29, 2018
No problemo


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