In order to simplify a complex situation, economic models often ...

[jhjkgdfhk]

In order to simplify a complex situation, economic models often treat constraints as unalterable.
  Indicate whether the statement is true or false

Question 2

As the price of a good increases:
 a. that good will yield less satisfaction per dollar than before.
  b. consumers will have more real income to spend on other goods.
  c. the quantity demanded of that good will also increase.
  d. the utility-maximizing quantity of that good willl not change.
  e. consumers will buy the good and substitute away from other goods.

[Ashley I]

Answer to Question 1

T

Answer to Question 2

a

[jhjkgdfhk]

Thank you

[Ashley I]

Happy to help you