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

Author Question: An economist says: The supply curve has two interpretations. What does the economist mean? What ... (Read 87 times)

CharlieWard

  • Hero Member
  • *****
  • Posts: 578
on: Jun 29, 2018
An economist says: The supply curve has two interpretations. What does the economist mean?
 
  What will be an ideal response?

Question 2

Recall from Chapter 5: Other things constant, when households lower their time preferences, and demonstrate a willingness to postpone some present consumption for future consumption,
 
  A) their savings increase.
  B) their savings decrease.
  C) the budget deficit increases.
  D) the budget deficit decreases.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bigcheese9

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

The first interpretation is that the supply curve shows the quantities of a good or service that producers are willing and able to sell at each price, other things being equal. The second interpretation is that the supply curve is a minimum-supply-price curve, so that for each quantity it shows the lowest price at which someone is willing to sell another unit.

Answer to Question 2

A


CharlieWard

  • Member
  • Posts: 578
Reply 2 on: Jun 29, 2018
Gracias!

kjohnson

  • Member
  • Posts: 330
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Survivorship curve for the North American beaver. Survivorship curve for the North American beaver.
Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ Coronary circulation. (A) Coronary vessels portraying the complexity and extent of the coronary circ
blood supply blood supply
How to find the equation of a cosine curve How to find the equation of a cosine curve
Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition
Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus). Type II curve. Mortality does not vary with age. Data for five-lined skink (Eumeces fasciatus).
Video: Requirements for nervous signals

For a complete list of videos, visit our video library