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Author Question: When economists talk about a demand schedule for a product, they mean A) the amount of a good ... (Read 93 times)

Zulu123

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on: Jun 29, 2018
When economists talk about a demand schedule for a product, they mean
 
  A) the amount of a good that consumers intend to purchase at each price in a set of possible prices in a given time period.
  B) the amount of a good that consumers are able to purchase (though they might not be willing to) at different prices in a given period of time.
  C) the amount of a good that consumers intend to purchase at only one particular price in a given period of time.
  D) the amount of a good that producers are willing to make available for sale at a particular price in a given time period.

Question 2

A situation in which a benefit or a cost associated with an economic activity spills over to third parties is called
 
  A) a public good.
  B) a merit good.
  C) an externality.
  D) the free-rider problem.


bfulkerson77

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


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