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

Author Question: The price of a resource declines when: a. both the demand for and the supply of the resource ... (Read 61 times)

fahad

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
The price of a resource declines when:
 a. both the demand for and the supply of the resource declines in the same proportion.
  b. demand remaining constant, supply of the resource declines.
  c. supply remaining constant, the demand for the resource declines.
  d. both the demand for and the supply of the resource increases in the same proportion.
  e. both the demand for and the supply of the resource declines, but supply falls by a greater proportion than demand.

Question 2

Which of the following statements is true?
 a. With an increase in the demand for health care, the quantity supplied increases but supply does not change.
  b. With an increase in the demand for health care, the supply curve shifts to the right.
 c. With an increase in the demand for health care, the supply curve shifts to the left.
 d. With an increase in the demand for health care, the price of the product decreases.
 e. With an increase in the demand for health care, the quantity supplied decreases but the supply does not change.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecabral0

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


fahad

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
:D TYSM

bulacsom

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Bioinformatics tools at the BAR (Bio-Array Resource). Bioinformatics tools at the BAR (Bio-Array Resource).
Segregation according to resource factor among 40 species of British passerine birds. Segregation according to resource factor among 40 species of British passerine birds.
Alan Price - Poor People Alan Price - Poor People
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Video: Virtual Enzyme Kinetics & Lineweaver Burk Plot

For a complete list of videos, visit our video library