« previous next »

Author Question: If the price of a resource falls, other things constant, a. demand for the product it produces will ... (Read 98 times)

Hungry!

  • Hero Member
  • *****
  • Posts: 1,071
on: Jun 30, 2018
If the price of a resource falls, other things constant,
 a. demand for the product it produces will increase
  b. demand for a substitute product will increase
  c. demand for a substitute resource will fall
  d. supply of that resource will rise
  e. supply of a substitute resource will also rise

Question 2

Society's total cost of producing a good
 a. includes only the cost to the firm
  b. includes only the external cost
  c. includes all private and external costs
  d. equals the value of the output level that maximizes the firm's profit
  e. equals the value of the output level that minimizes the firm's loss


djpooyouma

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Risk for falls cont'd Risk for falls cont'd
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Relative Humidity Changes at Constant Water-Vapor Content Relative Humidity Changes at Constant Water-Vapor Content
Importance of Considering Gestalt Principles in Product Design Importance of Considering Gestalt Principles in Product Design
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Homeostasis (range of body conditions, normal limits, mild stresses & severe stresses)

For a complete list of videos, visit our video library