« previous next »

Author Question: If the price of a product increases, the demand for the resource used in producing that product ... (Read 73 times)

olgavictoria

  • Hero Member
  • *****
  • Posts: 528
on: Jun 30, 2018
If the price of a product increases, the demand for the resource used in producing that product decreases.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following is explained by the price elasticity of demand for a product?
 a. The effect of changes in price on the supply of the product
  b. The effect of changes in quantity on the supply of the product
  c. The effect of changes in quantity on the price of the product
  d. The effect of changes in price on the quantity demanded of the product
  e. The effect of changes in price on the quantity supplied of the product


trog

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Did you know?

Famous people who died from poisoning or drug overdose include, Adolf Hitler, Socrates, Juan Ponce de Leon, Marilyn Monroe, Judy Garland, and John Belushi.

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.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Atmospheric pressure decreases as altitude increases. Atmospheric pressure decreases as altitude increases.
Kitagawa Utamaro, Utamaro's Studio, Eshi . . . dosa-hiki (the three primary steps in producing ... Kitagawa Utamaro, Utamaro's Studio, Eshi . . . dosa-hiki (the three primary steps in producing ...
Classic Supply - Demand Curve Classic Supply - Demand Curve
Product safety Product safety
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library