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Author Question: In order to simplify a complex situation, economic models often treat constraints as unalterable. ... (Read 65 times)

jhjkgdfhk

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on: Jun 30, 2018
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.


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Ashley I

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

T

Answer to Question 2

a


jhjkgdfhk

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Reply #2 on: Jun 30, 2018
Thank you :)


Ashley I

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Reply #3 on: Jun 30, 2018
Happy to help you


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