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Author Question: A recent article suggests that the introduction of the new iPhone 6 increased the demand for iPhone ... (Read 230 times)

mspears3

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on: Jun 29, 2018
A recent article suggests that the introduction of the new iPhone 6 increased the demand for iPhone protective cases. The article suggests that these two goods are
 
  A) substitutes and their indifference curves are close to being straight lines.
  B) complements and their indifference curves are close to being straight lines.
  C) substitutes and their indifference curves are close to being L shaped.
  D) complements and their indifference curves are close to being L shaped.

Question 2

The water and diamonds paradox of value results from
 
  A) the concept of deadweight loss.
  B) the law of demand.
  C) diminishing marginal utility.
  D) the elasticity of demand.


Koolkid240

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

D

Answer to Question 2

C


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mspears3

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Reply #2 on: Jun 29, 2018
Thank you


Koolkid240

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Reply #3 on: Jun 29, 2018
No problemo


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