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

Author Question: Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market ... (Read 92 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jun 30, 2018
Suppose that X and Y are substitutes. If the price of Y increases, how will this change the market equilibrium for X?
 a. Equilibrium price and quantity both decline.
 b. Equilibrium price and quantity both rise.
 c. Equilibrium price declines, and equilibrium quantity rises.
  d. Equilibrium price rises, and equilibrium quantity falls.

Question 2

A decrease in demand with the supply held constant leads to:
 a. an increased equilibrium price and an increased equilibrium quantity.
  b. a decreased equilibrium price and a decreased equilibrium quantity.
  c. a decreased equilibrium price and an increased equilibrium quantity.
  d. an increased equilibrium price and a decreased equilibrium quantity.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

T4T

  • Sr. Member
  • ****
  • Posts: 348
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


Mr3Hunna

  • Member
  • Posts: 536
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

xthemafja

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Donald Trump and Climate Change Donald Trump and Climate Change
Desertification and Climate Change Desertification and Climate Change
Consistency and Change in Personality Over the Lifespan Consistency and Change in Personality Over the Lifespan
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Epigenetic changes to DNA, such as methylation, change patterns of gene expression by activating or Epigenetic changes to DNA, such as methylation, change patterns of gene expression by activating or
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Major Elements in Biological Molecules: Proteins

For a complete list of videos, visit our video library