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Author Question: Based on Figure 3.1, it can be inferred that: A) Alvin does not consider good X as good. B) ... (Read 26 times)

future617RT

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on: Jul 1, 2018
Based on Figure 3.1, it can be inferred that:
 
  A) Alvin does not consider good X as good.
  B) Alvin will never purchase any of good Y.
  C) Alvin regards good X and good Y as perfect substitutes.
  D) Alvin regards good X and good Y as perfect complements.
  E) none of the above

Question 2

Boeing Corporation and Airbus Industries are the only two producers of long-range commercial aircraft. This market is not perfectly competitive because:
 
  A) each company has annual sales over 10 billion.
  B) each company can significantly affect prices.
  C) Airbus receives subsidies from the European Union.
  D) Airbus cannot sell aircraft to the United States government.
  E) all of the above


atrochim

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

C

Answer to Question 2

B


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