This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The price of a resource declines when: a. both the demand for and the supply of the resource ... (Read 132 times)

fahad

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
The price of a resource declines when:
 a. both the demand for and the supply of the resource declines in the same proportion.
  b. demand remaining constant, supply of the resource declines.
  c. supply remaining constant, the demand for the resource declines.
  d. both the demand for and the supply of the resource increases in the same proportion.
  e. both the demand for and the supply of the resource declines, but supply falls by a greater proportion than demand.

Question 2

Which of the following statements is true?
 a. With an increase in the demand for health care, the quantity supplied increases but supply does not change.
  b. With an increase in the demand for health care, the supply curve shifts to the right.
 c. With an increase in the demand for health care, the supply curve shifts to the left.
 d. With an increase in the demand for health care, the price of the product decreases.
 e. With an increase in the demand for health care, the quantity supplied decreases but the supply does not change.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecabral0

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

a


fahad

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

at

  • Member
  • Posts: 359
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Blood supply to the pituitary gland Blood supply to the pituitary gland
Elder Care Resource Phone Numbers Elder Care Resource Phone Numbers
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition Managing Supply Chain and Operations: An Integrative Approach, 2nd Edition
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Fetal Development of the Cardiovascular System

For a complete list of videos, visit our video library