Author Question: When oranges increase in price, the income effect A) decreases the consumption of oranges only if ... (Read 116 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
When oranges increase in price, the income effect
 
  A) decreases the consumption of oranges only if oranges are a normal good.
  B) decreases the consumption of oranges only if oranges are an inferior good.
  C) always increases the consumption of oranges.
  D) always decreases the consumption of oranges.

Question 2

The LRAC curve
 
  A) is the minimum points on all the short-run ATC curves.
  B) shows the lowest possible marginal cost of producing the different levels of output.
  C) shows the lowest attainable average total cost for all levels of output when all inputs can be varied.
  D) generally lies above the short-run ATC curves.



Yixagurpuldink

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

For a complete list of videos, visit our video library