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

Author Question: Plastic and steel are substitutes in the production of body panels for certain automobiles. If the ... (Read 159 times)

dakota nelson

  • Hero Member
  • *****
  • Posts: 604
on: Jul 1, 2018
Plastic and steel are substitutes in the production of body panels for certain automobiles. If the price of plastic increases, with other things remaining the same, we would expect:
 
  A) the price of steel to fall.
  B) the demand curve for steel to shift to the right.
  C) the demand curve for plastic to shift to the left.
  D) nothing to happen to steel because it is only a substitute for plastic.
  E) the demand curve for steel to shift to the left.

Question 2

The maximum price that a consumer is willing to pay for each unit bought is the ________ price.
 
  A) market
  B) reservation
  C) consumer surplus
  D) auction
  E) choke


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wilsonbho

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


dakota nelson

  • Member
  • Posts: 604
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Herbivore biomass is positively correlated with net aboveground primary production. Herbivore biomass is positively correlated with net aboveground primary production.
Tattoos and Body Piercings: Note the presence of all body piercings Tattoos and Body Piercings: Note the presence of all body piercings
Foot reflexology chart indicates points on the foot that reflexively correspond to other areas of th Foot reflexology chart indicates points on the foot that reflexively correspond to other areas of th
Do you know how kangaroos balance their body Do you know how kangaroos balance their body
A depiction of slaves on a South Carolina plantation, around 1790. Likely of Yoruba descent, they pl A depiction of slaves on a South Carolina plantation, around 1790. Likely of Yoruba descent, they pl
Roundworm Body Plan Roundworm Body Plan
Video: Spermatogenesis Animation

For a complete list of videos, visit our video library