« previous next »

Author Question: The current market price for good X is below the equilibrium price, and then the demand curve for X ... (Read 60 times)

FButt

  • Hero Member
  • *****
  • Posts: 519
on: Jul 1, 2018
The current market price for good X is below the equilibrium price, and then the demand curve for X shifts rightward. What is the likely outcome of the demand shift?
 
  A) The surplus increases.
  B) The surplus decreases.
  C) The shortage increases.
  D) The shortage decreases.

Question 2

The substitution effect of a decrease in the wage will
 
  A) decrease leisure, regardless of whether leisure is a normal or inferior good.
  B) increase leisure, regardless of whether leisure is a normal or inferior good.
  C) increase leisure only if leisure is a normal good.
  D) decrease leisure only if leisure is a normal good.


frogdreck123456

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

According to the CDC, approximately 31.7% of the U.S. population has high low-density lipoprotein (LDL) or "bad cholesterol" levels.

Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ... Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
How to find the equation of a cosine curve How to find the equation of a cosine curve
Nuts are also a good source of B group vitamins (including folate), and vitamin E Nuts are also a good source of B group vitamins (including folate), and vitamin E
Find the voltage, current and power for each resistor in the circuit below Find the voltage, current and power for each resistor in the circuit below
A current-carrying wire is placed in a uniform magnetic field, as shown below. A current-carrying wire is placed in a uniform magnetic field, as shown below.
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Barriers - eye structures, digestive mucosa, respiratory mucosa & genitourinary mucosa

For a complete list of videos, visit our video library