This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume that the demand curve for a certain good is a vertical line. This vertical demand curve ... (Read 87 times)

Starlight

  • Hero Member
  • *****
  • Posts: 567
on: Jun 30, 2018
Assume that the demand curve for a certain good is a vertical line. This vertical demand curve illustrates the idea that:
 a. consumers are unwilling to pay more than a certain price for the good.
  b. the good is a complement to another good.
  c. consumers are unwilling to pay less than a certain price for the good.
  d. there are many substitutes for this good.
  e. people will not change the quantity demanded of the good when its price is changed.

Question 2

When people alter their preferences when a choice is presented in a certain way, it is called:
 a. anchoring
 b. framing
 c. the endowment effect
  d. compartmentalizing


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nathang24

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


Starlight

  • Member
  • Posts: 567
Reply 2 on: Jun 30, 2018
Gracias!

dreamfighter72

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

« previous next »
 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
If you want to show differences between items at the same time, a bar graph is more effective than a If you want to show differences between items at the same time, a bar graph is more effective than a
Thermodynamic Diagrams and Vertical Temperature Profiles Thermodynamic Diagrams and Vertical Temperature Profiles
Good ethical judgment comes from both learning and experience. Good ethical judgment comes from both learning and experience.
Almonds and other nuts are also good sources of protein Almonds and other nuts are also good sources of protein
Number line (5 - 1) Number line (5 - 1)
Video: Virtual Tour of the Eye Animation

For a complete list of videos, visit our video library