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Author Question: Which of the following situations is NOT possible? A) SAC and LAC are both increasing for some ... (Read 60 times)

kshipps

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on: Jul 1, 2018
Which of the following situations is NOT possible?
 
  A) SAC and LAC are both increasing for some output levels.
  B) SAC is increasing but LAC is decreasing for some output levels.
  C) SAC is decreasing but LAC is increasing for some output levels.
  D) SAC and LAC are both decreasing for some output levels.
  E) All of the above are possible.

Question 2

If we plot the quantity of aluminum ore mined per year on the horizontal axis and the real annual price of aluminum ore on the vertical axis, we find that the path of price-quantity combinations generally indicates lower real prices and higher
 
  quantities over time. Which of the following statements is a plausible explanation for this observed outcome? A) Aluminum supply shifted leftward faster than the aluminum demand curve shifted rightward.
  B) Aluminum supply shifted rightward faster than the aluminum demand curve shifted rightward.
  C) Aluminum supply shifted rightward and aluminum demand remained constant.
  D) both A and B above
  E) both B and C above


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SVictor

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

E

Answer to Question 2

E


kshipps

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

TheDev123

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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