Author Question: Refer to Figure 2-4. Consider the following events: a. an increase in the patent protection ... (Read 233 times)

Marty · **on:** Jun 29, 2018

Refer to Figure 2-4. Consider the following events:

a. an increase in the patent protection period to 75 years
b. a hurricane that destroys a substantial portion of a nation's capital stock
c. the implementation of a secure and enforceable property rights system

Which of the events listed above could cause a movement from W to Z?
A) a only B) a and b only C) a and c only D) b and c only E) a, b, and c

Question 2

If the quantity of tacos demanded is represented by the equation QD = 20 - 0.5P then the corresponding price of tacos is represented by the equation

A) P = 10 - 2QD. B) P = 40 - 2QD. C) P = 0.5QD + 10. D) P = QD + 40.