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Author Question: See the information in Scenario 4.4. Suppose that the price should increase slightly from 10, how ... (Read 125 times)

james0929

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on: Jul 1, 2018
See the information in Scenario 4.4. Suppose that the price should increase slightly from 10, how will this affect the total expenditure of consumers on the game?
 
  A) Total expenditures will increase.
  B) Total expenditures will not change.
  C) Total expenditures will decrease by a larger percentage than the price increase.
  D) Total expenditures will decrease by a smaller percentage than the price increase.
  E) either C or D could be true.

Question 2

Technological improvement
 
  A) can hide the presence of diminishing returns.
  B) can be shown as a shift in the total product curve.
  C) allows more output to be produced with the same combination of inputs.
  D) All of the above are true.


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Silverbeard98

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


james0929

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Reply #2 on: Jul 1, 2018
Thank you


Silverbeard98

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Reply #3 on: Jul 1, 2018
No problemo


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