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Author Question: If other factors remain unchanged, technological progress in producing good X definitely will lead ... (Read 104 times)

RODY.ELKHALIL

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on: Jun 29, 2018
If other factors remain unchanged, technological progress in producing good X definitely will lead to
 
  A) an increase in the market clearing price of good X and a decrease in the equilibrium quantity of good X.
  B) an increase in both the market clearing price and the equilibrium quantity of good X.
  C) a decrease in the market clearing price of good X and an increase in the equilibrium quantity of good X.
  D) a decrease in both the market clearing price and the equilibrium quantity of good X.

Question 2

From the economist's point of view
 
  A) wants and needs are exactly the same.
  B) a want is a lifesaving necessity.
  C) needs are objectively undefinable.
  D) we all have wants but only very poor people have needs.


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LVPMS

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

C

Answer to Question 2

C


RODY.ELKHALIL

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Reply #2 on: Jun 29, 2018
Correct answers!


LVPMS

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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