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Author Question: The Law of Demand is the reason behind: A) the price elasticity of demand having a positive ... (Read 94 times)

PhilipSeeMore

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on: Jun 29, 2018
The Law of Demand is the reason behind:
 
  A) the price elasticity of demand having a positive value.
  B) the income elasticity of demand having a positive value.
  C) the price elasticity of demand having a negative value.
  D) the income elasticity of demand having a negative value.

Question 2

Refer to the figure above. The MSB curve lies to the right of the demand curve because the production of Good Y involves ________.
 
  A) positive externalities
  B) negative externalities
  C) increasing returns to scale
  D) decreasing returns to scale


cloudre37

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

C

Answer to Question 2

A


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