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

Author Question: Suppose the price of copper and the quantity of copper both rose at the same time. Whatmight be the ... (Read 120 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
on: Jun 29, 2018
Suppose the price of copper and the quantity of copper both rose at the same time. Whatmight be the likely explanation of this using supply and demand analysis?
 
  What will be an ideal response?

Question 2

A monopolist is the sole supplier of a good or service for which there are no close substitutes.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dawsa925

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

The likelihood is that the demand for copper rose. This drove up the price but at the same time it pushed the market up and along the supply curve for copper which induced firms to produce more of it.

Answer to Question 2

TRUE


mwit1967

  • Hero Member
  • *****
  • Posts: 501
Reply #2 on: Jun 29, 2018
Correct answers!


dawsa925

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Multiflora Rose Multiflora Rose
Bronfenbrenner’s model of the ecological-systems approach to studying development. He suggested that Bronfenbrenner’s model of the ecological-systems approach to studying development. He suggested that
Using a vacuum hose and a grounded test light to ground one cylinder at a time on a DIS. This works ... Using a vacuum hose and a grounded test light to ground one cylinder at a time on a DIS. This works ...
A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ... A buffer solution is prepared using 0.5 moles of a weakly basic drug and an unknown quantity of ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Time homework Time homework
Video: Gastrulation: cross section of the frog

For a complete list of videos, visit our video library