Author Question: The economy is undergoing a recession that has reduced consumers' incomes. In the computer chip ... (Read 101 times)

Alainaaa8 · **on:** Jun 29, 2018

The economy is undergoing a recession that has reduced consumers' incomes. In the computer chip market, this will lead to

A) an increase in price and a decrease in quantity.
B) an increase in price and an increase in quantity.
C) a decrease in price and a decrease in quantity.
D) a decrease in price and an increase in quantity.

Question 2

The concept of opportunity cost exists because

A) of scarcity.
B) goods have different prices.
C) of shortages.
D) the value of services is hard to determine.