« previous next »

Author Question: A normal good is one A) with a downward sloping demand curve. B) for which demand increases when ... (Read 153 times)

Lisaclaire

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
A normal good is one
 
  A) with a downward sloping demand curve.
  B) for which demand increases when the price of a substitute rises.
  C) for which demand increases when income increases.
  D) none of the above

Question 2

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A 6, Firm B 7, Firm C 10, and Firm D 12.
 
  If the market price is 11 then the market supply for this good will be A) 3 units.
  B) 4 units.
  C) 1 unit.
  D) 2 units.


karmakat49

  • Sr. Member
  • ****
  • Posts: 369
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

(a) In normal nerve conduction, sodium ions (Na+) enter the sodium channels along a neuron and ... (a) In normal nerve conduction, sodium ions (Na+) enter the sodium channels along a neuron and ...
The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ... The paper test involves holding a piece of paper near the tailpipe of an idling engine. A good ...
A) Normal bronchiole and (B) bronchiole constricted in asthma attack. A) Normal bronchiole and (B) bronchiole constricted in asthma attack.
Gestalt Law of Good Continuation Gestalt Law of Good Continuation
Classic Supply - Demand Curve Classic Supply - Demand Curve
Normal nerve conduction of Sodium ion Normal nerve conduction of Sodium ion
Video: Deafness Culture

For a complete list of videos, visit our video library