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Author Question: The law of demand can be best described by A) people will buy things that they enjoy. B) if ... (Read 11 times)

vinney12

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on: Jul 1, 2018
The law of demand can be best described by
 
  A) people will buy things that they enjoy.
  B) if incomes rise, people will buy more.
  C) a rise in price will cause shortages.
  D) a fall in price will increase quantity demanded.

Question 2

Returns to scale is a concept that operates
 
  A) only in the short run.
  B) only in the long run.
  C) in both the long run and the short run.
  D) in either the long run or the short run, but never both.


shaikhs

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


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