The economy is undergoing a recession that has reduced consumers' ...

[Alainaaa8]

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.

[pallen55]

Answer to Question 1

C

Answer to Question 2

A

[Alainaaa8]

Thanks for the timely response, appreciate it

[ghepp]

Excellent