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Author Question: Suppose the price and quantity of steel fell at the same time. What might be the likelyexplanation ... (Read 80 times)

dmcintosh

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on: Jun 29, 2018
Suppose the price and quantity of steel fell at the same time. What might be the likelyexplanation of this using supply and demand analysis?
 
  What will be an ideal response?

Question 2

Long-run economic growth requires all of the following except
 
  A) government provision of secure property rights. B) political instability.
  C) technological change. D) increases in capital per hour worked.


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cat123

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

The likelihood is that the demand for steel fell. This would push down the price of steel and it would also result in less steel produced and sold.

Answer to Question 2

B


dmcintosh

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

dyrone

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Reply 3 on: Yesterday
Excellent

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