« previous next »

Author Question: A consumer's switch to another similar good when the price of the preferred good increases is termed ... (Read 84 times)

yoroshambo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 30, 2018
A consumer's switch to another similar good when the price of the preferred good increases is termed the:
 a. income effect.
 b. substitution effect.
  c. utility effect.
 d. marginal effect.

Question 2

Social regulation means that the government dictates the price that a firm must charge and/or the quantity that a firm must supply.
 a. True
  b. False
  Indicate whether the statement is true or false


tanna.moeller

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

This year, an estimated 1.4 million Americans will have a new or recurrent heart attack.

Women who are monozygotic twins and have the same genes are more similar in their marital happiness Women who are monozygotic twins and have the same genes are more similar in their marital happiness
On some vehicles equipped with an airflow sensor, a switch is used to energize the fuel pump. In ... On some vehicles equipped with an airflow sensor, a switch is used to energize the fuel pump. In ...
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
Older Adults Benefit from Good Nutrition and Physical Activity Older adults Older Adults Benefit from Good Nutrition and Physical Activity Older adults
A fibrous root system has similar-sized adventitious roots that branch from the stem A fibrous root system has similar-sized adventitious roots that branch from the stem
Video: ribosome

For a complete list of videos, visit our video library