Author Question: When the price of a normal good decreases, people buy ________ of the good due to ________. A) ... (Read 110 times)

kodithompson

  • Hero Member
  • *****
  • Posts: 566
When the price of a normal good decreases, people buy ________ of the good due to ________.
 
  A) more; the substitution effect only
  B) more; the substitution and income effects
  C) less; the substitution effect only
  D) less; the income effect only

Question 2

Suppose your neighbor has a beautiful garden. The benefit that she enjoys from her garden is called ________ and the benefit the rest of the neighborhood enjoys is called ________.
 
  A) marginal private benefit; marginal external benefit
  B) private cost; external cost
  C) marginal social benefit; marginal external benefit
  D) marginal external benefit; marginal social benefit



katheyjon

  • Sr. Member
  • ****
  • Posts: 331
Answer to Question 1

B

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

For a complete list of videos, visit our video library