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

Author Question: In which of the following situations will both market clearing price and the equilibrium quantity ... (Read 137 times)

Kthamas

  • Hero Member
  • *****
  • Posts: 546
on: Jun 29, 2018
In which of the following situations will both market clearing price and the equilibrium quantity decrease?
 
  A) an increase in demand and no change in supply
  B) an increase in supply with no change in demand
  C) a decrease in supply with no change in demand
  D) a decrease in demand with no change in supply

Question 2

How could Adam Smith's comment about the butcher, the brewer, and the baker be accurately rephrased in modern terms?
 
  A) The butcher, the brewer, and the baker give us our dinner because they want to be well liked in the community.
  B) The butcher, the brewer, and the baker give us our dinner because they will be sued if they don't do so.
  C) The butcher, the brewer, and the baker give us our dinner because they each earn a living by doing so.
  D) The butcher, the brewer, and the baker give us our dinner because they view doing so as a public service.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

SomethingSomething

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


Kthamas

  • Member
  • Posts: 546
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

A comparison of gradualism and punctuated equilibrium. A comparison of gradualism and punctuated equilibrium.
Coding for Special Situations Cont Coding for Special Situations Cont
What is the value of the equilibrium constant, K, at 25°C for the reaction? What is the value of the equilibrium constant, K, at 25°C for the reaction?
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ... What would be the appropriate equilibrium temperature of a system obtained by adding 25.0 g of ...
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Stomach peristalsis - Movement of Food Through the Small Intestine

For a complete list of videos, visit our video library