--%>

Change in the price of a resource

A change in the price of a resource will cause a modification in the: (w) demand for the resource. (x) supply of the resource. (y) quantity demanded of the resource. (z) demand for the good the resource produces.

Hey friends please give your opinion for the problem of Economics that is given above.

   Related Questions in Microeconomics

  • Q : Determine profit maximizing A

    A monopolist has an inverse demand curve given by p(y) = 12 - y and a cost curve given by c(y) = y2. (a) What will be its profi t maximizing level of output?

  • Q : Demand curve The law of demand is

    The law of demand is graphically demonstrated by:

  • Q : Words of Joseph A. Schumpeter about

    According to Joseph A. Schumpeter as: (1) refined and popularized the idea that profits derive by innovation. (2) perceived profits as rewards for bearing uncertainty. (3) believed which monopoly firms are so inefficient which none fully realize their

  • Q : Competition in Labor Markets The

    The horizontal labor supply curve signifies that: (i) The supply of labor is perfectly inelastic. (ii) The firm can hire as much labor as it requires at going wage rate. (iii) Labor and capital are in the fixed supply. (iv) Marginal physical product of the labor is co

  • Q : Illustration of Cartels The

    The Organization of Petroleum Exporting Countries (OPEC) is an illustration of: (w) a monopoly. (x) monopolistic competition. (y) a cartel. (z) decentralized communism. Can someone explain/help me with best solution about problem o

  • Q : Problem on Current labor union issues I

    I have a problem in economics on Problem on Current labor union issues. Please help me in the following question. The current labor union issues would comprise: (i) Public sentiment favoring the legislative control of strike powers. (ii) Reduction of

  • Q : Less present value by given price When

    When the market interest rate exceeds the rate of return you compute on an asset: (i) competition for profit must make its price rise quickly. (ii) its present value is less than its price. (iii) the market is in long term equilibrium

  • Q : Features of Monopoly Features of

    Features of Monopoly: A) A Single seller B) No close replacement available. C) No freedom for entry of new firms. D) Possibility of price discrimination.

  • Q : Shift responsibility for all flawed

    Can someone please help me in finding out the accurate answer from the following question. The directors of garage sales may attempt to shift the responsibility for all the flawed purchases to buyers by posting signs which state: (i) No trespassing. (ii) Carpe diem. (

  • Q : Elastic industry What industry is

    What industry is perfectly elastic that is not agriculture?