« previous next »

Author Question: Two events occur simultaneously in the market for automobiles: (1) an improvement in assembly line ... (Read 39 times)

cartlidgeashley

  • Hero Member
  • *****
  • Posts: 572
on: Jul 1, 2018
Two events occur simultaneously in the market for automobiles: (1) an improvement in assembly line technology and (2) the economy enters a recession (which decreases consumers' income). An economist would predict with certainty that
 a. equilibrium quantity will rise
  b. equilibrium quantity will fall
  c. equilibrium price will rise
  d. equilibrium price will fall
  e. the equilibrium price will remain the same

Question 2

In which of the following situations will the equilibrium price of wheat increase and the change in the equilibrium quantity of wheat be indeterminate?
 a. if supply and demand both decline
  b. if supply and demand both rise
  c. if supply declines and demand rises
  d. if supply rises and demand declines
  e. if supply remains constant and demand rises


Jadwiga9

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

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?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Summary of events in a typical humoral immune response. Summary of events in a typical humoral immune response.
The nurse needs to inform the patient with impaired vision when a touch is to occur and ask permissi The nurse needs to inform the patient with impaired vision when a touch is to occur and ask permissi
Why are some of the letters above the red line and some letters below? Why are some of the letters above the red line and some letters below?
The frontal lobe (green) bounded by the Sylvian fissure (yellow line) and central sulcus (red line), The frontal lobe (green) bounded by the Sylvian fissure (yellow line) and central sulcus (red line),
The major events in meiosis in an animal cell with metaphase The major events in meiosis in an animal cell with metaphase
Timeline of Major Events in Plants Timeline of Major Events in Plants
Video: Major Elements in Biological Molecules: Proteins

For a complete list of videos, visit our video library