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

Author Question: Suppose that Dell computers and Gateway computers are very close substitutes. Then the indifference ... (Read 134 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
Suppose that Dell computers and Gateway computers are very close substitutes. Then the indifference curves between Dell computers and Gateway computers are almost straight lines. Is this analysis correct or incorrect? Explain.
 
  What will be an ideal response?

Question 2

If a good is scarce, does that imply that there is a shortage of it?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kbennett34

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

The analysis is correct. When two goods are perfect substitutes, their indifference curves are straight lines. A Dell computer and a Gateway computer are very close substitutes, so their indifference curves are close to straight lines.

Answer to Question 2

No. If a good is scarce, that means that it is limited in supply. All resources in the economy arescarce.


future617RT

  • Member
  • Posts: 543
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

nguyenhoanhat

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

The Centers for Disease Control and Prevention has released reports detailing the deaths of infants (younger than 1 year of age) who died after being given cold and cough medications. This underscores the importance of educating parents that children younger than 2 years of age should never be given over-the-counter cold and cough medications without consulting their physicians.

Iberian lynx in close-up Iberian lynx in close-up
Vasectomy. (a) Vas deferens is located within the spermatic cord on both sides. (b) A small incision Vasectomy. (a) Vas deferens is located within the spermatic cord on both sides. (b) A small incision
Three Close Binaries Three Close Binaries
Close-up view of Pluto's mountains, frozen plains and hazes Close-up view of Pluto's mountains, frozen plains and hazes
Chuck Close, Stanley II, detail. 1980–81. Chuck Close, Stanley II, detail. 1980–81.
Investment in Computers as a Percentage of GDP, 1982–2009 Investment in Computers as a Percentage of GDP, 1982–2009
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library