Author Question: The demand schedule for a commodity illustrates how the consumption of a commodity changes with ... (Read 278 times)

roselinechinyere27m · **on:** Jun 30, 2018

The demand schedule for a commodity illustrates how the consumption of a commodity changes with changes in:

A) its price. B) tastes and preferences.
C) supply. D) income.

Question 2

The classical model makes little distinction between the long run and short run because

A) wages and prices adjust so fast that the economy is quickly moving towards the long run.
B) the model has not been fully developed yet.
C) current changes influence the long run, so it is not possible to plan for the future.
D) the classical economists knew that we are always operating in the short run.