Author Question: If a price decrease results in your expenditure on a good decreasing, your demand must be A) ... (Read 44 times)

jwb375 · **on:** Jun 29, 2018

If a price decrease results in your expenditure on a good decreasing, your demand must be

A) inelastic.
B) unit.
C) elastic.
D) linear.

Question 2

The government sets a price floor for corn which is above the equilibrium price of corn. As a result, ________.

A) the corn market will be efficient
B) a deadweight loss will be created
C) a shortage of corn will be created
D) none of the above answers is correct