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Author Question: The change in consumption that results from a change in the relative price of goods while staying on ... (Read 96 times)

waynest

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on: Jun 29, 2018
The change in consumption that results from a change in the relative price of goods while staying on the same indifference curve is the
 
  A) income effect.
  B) substitution effect.
  C) indifference effect.
  D) price effect.

Question 2

An efficient use of resources occurs when
 
  A) there is a deadweight loss.
  B) the total social benefit of a good equals its total social cost.
  C) there is perfect price discrimination by a monopoly.
  D) there is no producer surplus.


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dlook33

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

B

Answer to Question 2

C


waynest

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Reply #2 on: Jun 29, 2018
Thank you


dlook33

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Reply #3 on: Jun 29, 2018
No problemo


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