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

Author Question: Opportunity cost exists because A) of scarcity. B) prices must adjust to eliminate shortages. ... (Read 54 times)

lunatika

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
Opportunity cost exists because
 
  A) of scarcity.
  B) prices must adjust to eliminate shortages.
  C) production could not occur without the opportunity cost of using resources.
  D) the value of economic goods is positive while the value of goods is zero.

Question 2

More farmers have recently entered the corn industry. In addition there has been a technological advancement in the fertilizer industry providing corn farmers with a cheaper and a more effective fertilizer.
 
  In the market for corn, the effects these changes will have on the equilibrium price and quantity are A) price will increase, and quantity will decrease.
  B) price will increase, and the effect on quantity is indeterminate.
  C) price will decrease, and quantity will increase.
  D) price will decrease, and the effect on quantity is indeterminate.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Viet Thy

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


lunatika

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast As a result of sharing its environment with humans, this macaque had the opportunity to steal an ast
Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Better land and water management and appropriate crop selection can help eliminate hunger Better land and water management and appropriate crop selection can help eliminate hunger
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
The density of Pb(s) is 11.34 g/cm3. Pb(s) exists in the cubic-closest packed structure The density of Pb(s) is 11.34 g/cm3. Pb(s) exists in the cubic-closest packed structure
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library