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Author Question: A firm will demand more units of a resource if: a. the resource adds more to revenues than it ... (Read 103 times)

jwb375

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on: Jun 30, 2018
A firm will demand more units of a resource if:
 a. the resource adds more to revenues than it costs.
  b. the firm experiences diseconomies of scale.
  c. the price of the good that uses the resource declines.
  d. the resource has many substitutes.
  e. the resource has few substitutes.

Question 2

Which of the following possibly determines the allocation of goods and services in a free market?
 a. The availability of raw materials
 b. The cost of production
 c. The level of government intervention
 d. The ability of the producers to produce a differentiated product
  e. The willingness and ability of consumers to pay for the product


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missalyssa26

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

a

Answer to Question 2

e


jwb375

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Reply #2 on: Jun 30, 2018
Thank you


missalyssa26

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Reply #3 on: Jun 30, 2018
No problemo


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