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

Author Question: In an indifference curve/budget line diagram, generally when the price of a good increases, the ... (Read 136 times)

hubes95

  • Hero Member
  • *****
  • Posts: 561
on: Jun 29, 2018
In an indifference curve/budget line diagram, generally when the price of a good increases, the consumer purchases ________ of the good and moves to a ________ indifference curve.
 
  A) less; lower
  B) less; higher
  C) more; lower
  D) more; higher

Question 2

In a perfectly competitive market that is in long-run equilibrium, which of the following will NOT occur?
 
  A) Firms make only zero economic profit.
  B) Firms' owners earn a normal profit.
  C) The price equals the minimum average total cost.
  D) Entrepreneurs want to enter this industry.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Anonymous

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


hubes95

  • Member
  • Posts: 561
Reply 2 on: Jun 29, 2018
Wow, this really help

marict

  • Member
  • Posts: 304
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

The first oncogene was discovered in 1970 and was termed SRC (pronounced "SARK").

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Mutualisms, such as those that occur among plants and pollinators, generally involve large numbers o Mutualisms, such as those that occur among plants and pollinators, generally involve large numbers o
the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
Diagram of the food chain Diagram of the food chain
A simplified diagram of the Human Ear A simplified diagram of the Human Ear
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
Diagram of lab Diagram of lab
Video: Introduction to filtration - filtrate formation and composition

For a complete list of videos, visit our video library