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

Author Question: S & S Backhoe Service in Ozark, Arkansas rents backhoes and other heavy equipment to local ... (Read 24 times)

jerry coleman

  • Hero Member
  • *****
  • Posts: 570
S & S Backhoe Service in Ozark, Arkansas rents backhoes and other heavy equipment to local construction companies. What determines the demand for backhoes in Arkansas?
 
  A) The rental rate for backhoes
  B) The equilibrium quantity of backhoes
  C) The value of marginal product of backhoes
  D) The maximum number of backhoes available to rent

Question 2

When the price of a normal good rises, the income effect results in ________ in the quantity demanded and the substitution effect results in ________ in the quantity demanded.
 
  A) an increase; an increase
  B) an increase; a decrease
  C) a decrease; an increase
  D) a decrease; a decrease



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

briezy

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

C

Answer to Question 2

D




jerry coleman

  • Member
  • Posts: 570
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Excellent

 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

For a complete list of videos, visit our video library