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

Author Question: Explain the difference between a change in quantity demanded and a change in demand. What will be ... (Read 117 times)

Marty

  • Hero Member
  • *****
  • Posts: 553
on: Jun 30, 2018
Explain the difference between a change in quantity demanded and a change in demand.
 
  What will be an ideal response?

Question 2

Which of the following correctly describes a final good?
  i. A final good is bought by its final consumer.
  ii. A final good can be used by a firm as a component of another good or service.
  iii. Investment goods cannot be a final good.
 
  A) ii and iii B) i and iii C) i and ii D) i, ii and iii E) i only


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

DHRUVSHAH

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 30, 2018
Answer to Question 1

A change in quantity demanded of a product is caused by a change in the price of the product. It is represented by a movement along the product's demand curve. A change in demand for a product is caused by a change in a variable other than the price of the product. It is represented by a shift of the demand curve.

Answer to Question 2

E


Marty

  • Member
  • Posts: 553
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

Liamb2179

  • Member
  • Posts: 365
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra Positron emission tomography (PET) image showing the difference in the metabolic activity of the bra
Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr
Global Climate Change Global Climate Change
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Spermatogenesis Animation

For a complete list of videos, visit our video library