Author Question: Is the following quote correct? Here's the law of demand in a nutshell. The lower the price, the ... (Read 40 times)

jessicacav

  • Hero Member
  • *****
  • Posts: 558
Is the following quote correct? Here's the law of demand in a nutshell. The lower the price, the higher the quantity demanded, other things constant.
 
  A) Yes, it is totally correct.
  B) No. It would be correct if it didn't say other things constant.
  C) No, because it confuses demand and quantity demanded.
  D) No, because the law of demand does not apply to nutshells.

Question 2

Based on the figure above, international trade leads to
 
  A) a net gain in surplus of 12.5 billion.
  B) a net loss of surplus of 12.5 billion.
  C) a net gain in surplus of 27.5 billion.
  D) a net loss of surplus of 15 billion.
  E) no net gain or loss of surplus.



recede

  • Sr. Member
  • ****
  • Posts: 315
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

recede

  • Sr. Member
  • ****
  • Posts: 315

 

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

For a complete list of videos, visit our video library