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Author Question: The law of demand is based on the observation that A) people buy less of a product when the ... (Read 14 times)

nmorano1

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on: Jun 29, 2018
The law of demand is based on the observation that
 
  A) people buy less of a product when the product becomes less fashionable.
  B) people buy more of a product when the price falls.
  C) people are indifferent to price changes.
  D) stores go out of business if they lower prices.

Question 2

Microeconomics is defined as that part of economic analysis that
 
  A) studies the behavior of the economy as a whole.
  B) includes the problems of inflation and unemployment.
  C) studies individual decision making by households and firms.
  D) concerns aggregate production and consumption.


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durant1234

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

B

Answer to Question 2

C


nmorano1

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Reply 2 on: Jun 29, 2018
Excellent

raenoj

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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