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

Author Question: Which of the following correctly describes the result of a price increase for an inferior good? ... (Read 11 times)

luminitza

  • Hero Member
  • *****
  • Posts: 555
on: Jun 29, 2018
Which of the following correctly describes the result of a price increase for an inferior good?
 
  A) The substitution effect causes the demand for the good to decrease; the income effect causes the demand for the good to increase.
  B) Both the substitution effect and the income effect cause the consumer to buy less of the good.
  C) The substitution effect causes the demand for the good to increase; the income effect causes the demand for the good to decrease.
  D) The substitution effect causes the consumer to buy less of the good and the income effect causes the consumer to buy more of the good.

Question 2

Few firms in the United States are monopolies because
 
  A) when a firm earns profits, other firms will enter its market.
  B) most products that firms produce have substitutes.
  C) few firms experience economies of scale.
  D) of antitrust laws.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

TDubDCFL

  • Sr. Member
  • ****
  • Posts: 357
Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


luminitza

  • Member
  • Posts: 555
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Colles’ A break in the distal portion of the radius; often the result of reaching out to cushion a f Colles’ A break in the distal portion of the radius; often the result of reaching out to cushion a f
Analogy for How Magnetic Field Strengths Increase Analogy for How Magnetic Field Strengths Increase
Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ... Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
Dried fruits are good source of sulfur Dried fruits are good source of sulfur
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: What is an ecosystem?

For a complete list of videos, visit our video library