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Author Question: If resource A and resource B are substitutes of each other and the price of resource A increases, ... (Read 121 times)

bobbie

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on: Jun 30, 2018
If resource A and resource B are substitutes of each other and the price of resource A increases, then:
 a. the price elasticity of demand for resource B will increase.
  b. the demand for resource A will increase.
  c. the demand for resource B will increase.
  d. the price elasticity of demand for resource B will decrease.
  e. the demand for resource B will decrease.

Question 2

Economic growth is represented by an inward shift of the production possibility curve.
 a. True
  b. False
  Indicate whether the statement is true or false


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kiamars2010

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

c

Answer to Question 2

False


bobbie

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

patma1981

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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