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Author Question: Suppose the equilibrium price of bottled water has risen from 1.00 per bottle to 2.00 per bottle and ... (Read 122 times)

Medesa

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on: Jun 29, 2018
Suppose the equilibrium price of bottled water has risen from 1.00 per bottle to 2.00 per bottle and the equilibrium quantity has increased. These changes are a result of a ________ shift of the ________ curve for bottled water.
 
  A) rightward; demand
  B) rightward; supply
  C) leftward; supply
  D) leftward; demand

Question 2

When we cannot produce more of any good without giving up some other good that we value more highly, we have achieved
 
  A) production.
  B) equity.
  C) allocative efficiency.
  D) the production point where the marginal benefit exceeds the marginal cost by as much as possible.


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stano32

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

A

Answer to Question 2

C


Medesa

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

juliaf

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Reply 3 on: Yesterday
Wow, this really help

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