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Author Question: A rise in demand for restaurant meals is likely to cause which of the following in the long run? a. ... (Read 155 times)

wrbasek0

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on: Jun 30, 2018
A rise in demand for restaurant meals is likely to cause which of the following in the long run?
 a. economic losses for each restaurant
  b. a lower price for each restaurant meal
  c. fewer restaurants in the industry
  d. more restaurants in the industry
  e. economic profit for restaurants

Question 2

Generally, people are more satisfied with private market outcomes than with public voting outcomes because
 a. each consumer in the private market can choose the quantity he or she desires
  b. most people are near the median
  c. the prices are lower
  d. markets are involuntary
  e. there are too many choices to make in the public sector


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jackie

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

D

Answer to Question 2

A


wrbasek0

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Reply #2 on: Jun 30, 2018
Thank you :)


jackie

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Reply #3 on: Jun 30, 2018
Happy to help you


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