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Author Question: When people decorate the exteriors of their homes with colored lights, they create ________ for the ... (Read 307 times)

cnetterville

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on: Jun 29, 2018
When people decorate the exteriors of their homes with colored lights, they create ________ for the motorists who pass by.
 
  A) an external benefit
  B) a competitive good
  C) a public good
  D) an excludable good

Question 2

What will happen to the equilibrium price and equilibrium quantity of ice cream cones when consumers' incomes decrease?
 
  A) If ice cream cones are a normal good, then the equilibrium price and quantity of ice cream cones will decrease.
  B) If ice cream cones are a normal good, then the equilibrium price and equilibrium quantity of ice cream cones will increase.
  C) If ice cream cones are an inferior good, then the equilibrium price for an ice cream cone will increase and the equilibrium quantity of ice cream cones will decrease.
  D) If ice cream cones are an inferior good, then the equilibrium price and quantity of ice cream cones will decrease.


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morrie123456

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

A

Answer to Question 2

A


cnetterville

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Reply #2 on: Jun 29, 2018
Thank you :)


morrie123456

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Reply #3 on: Jun 29, 2018
Happy to help you


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