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Author Question: Which of the following could explain why there was a stampede at the Richmond International Raceway ... (Read 56 times)

OSWALD

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on: Jun 30, 2018
Which of the following could explain why there was a stampede at the Richmond International Raceway where 1,000 laptops were being sold at 50 each?
 
  A) Those who bought laptops at that price were those who valued laptops the most.
  B) The quantity of laptops demanded at 50 was higher than the quantity supplied.
  C) The demand for laptops is not very responsive to price.
  D) The price of 50 per laptop was above the equilibrium price of laptops.

Question 2

The study of development economics is to understand
 
  A) the personality factors that lead people to become entrepreneurs.
  B) why most of the patents on record have been given to men rather than to women.
  C) why some countries are rich and others are poor.
  D) why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.


wfdfwc23

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


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