This topic contains a solution. Click here to go to the answer

Author Question: Refer to Figure 2-1. ________ is (are) inefficient in that not all resources are being used. A) ... (Read 21 times)

bb

  • Hero Member
  • *****
  • Posts: 544
Refer to Figure 2-1. ________ is (are) inefficient in that not all resources are being used.
 
  A) Point A B) Point B C) Point C D) Points A and C

Question 2

Explain how the following factors will shift the demand curve for Gillette shaving cream.
 
  a. The price of a competitor's shaving cream increases.
  b. With an increase in unemployment, the average level of income in the economy falls.
  c. Shaving gels and foams, marketed as being better than shaving creams, are introduced in the market.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sultana.d

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

A

Answer to Question 2

a. Since Gillette and other shaving creams are substitutes, an increase in the price of a competitor's shaving cream should lead to an increase in the demand for Gillette shaving cream. This means that the demand curve for Gillette shaving cream will shift to the right.
b. With a fall in the average income level, the demand for shaving cream is likely to fall. The demand curve for Gillette shaving cream will shift to the left.
c. Shaving gels and foams would be considered substitutes for shaving cream. The demand curve for Gillette shaving cream will shift to the left.





 

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

The cure for trichomoniasis is easy as long as the patient does not drink alcoholic beverages for 24 hours. Just a single dose of medication is needed to rid the body of the disease. However, without proper precautions, an individual may contract the disease repeatedly. In fact, most people develop trichomoniasis again within three months of their last treatment.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

For a complete list of videos, visit our video library