Author Question: Which of the following will cause a change in the supply of a product? a. a change in the price of ... (Read 42 times)

ap345 · **on:** Jun 30, 2018

Which of the following will cause a change in the supply of a product?
a. a change in the price of suppliers' inputs
b. a change in the price of alternative goods that could be produced with the same resources
c. a change in the expected future price of the product
d. all of the above

Question 2

Describe the difference between a microeconomic demand curve and an aggregate demand curve.

Jsherida · **Reply #1 on:** Jun 30, 2018

Answer to Question 1

d

Answer to Question 2

A microeconomic demand curve shows the relationship between the relative price of a good and how much of that good is demanded, while an aggregate demand curve relates the amounts of real goods and services willingly purchased in an economy to the general price level for these goods and services.