What is substitutes
Substitutes: The two goods for which a rise in the price of one good leads to a rise in the demand for another.
Possibilities Food (millions of tons per year) Tractors (millions per year) A 0 30 B 4 28 C 8 24 D 12 20 E 16 14 F 20 8 G 24 0 a. Is it possible for this nation to produce thirty million tons of food per year? Why or why not. b. Is it possible for this nation to produce thirty million
Can someone help me in finding out the right answer from the given options. The substitution effect is fully explained when: (i) Brandon just eat tofu since he is on a diet. (ii) A rise in the price of corn chips drives up demand for the salsa. (iii)
In poor countries people spend a big percentage of their income so that APC and MPC are high. Yet, the value of multiplier is low. Explain why?
I have a problem in economics on Change in real income when price fall. Please help me in the following question. When gas prices drop from $2.65 to $2.45, the biggest change in real income is realized by: (1) Harry Hustler who drives his 1995 Lincoln 200,000 miles/ye
Explain the statement "Hypothes is the basic short run and long run behaviors of the airline industry in a market economy".
When equilibrium moves from point a to point b in the figure shown below, the only market experiencing a rise in demand is illustrated in: (1) Panel A. (2) Panel B. (3) Panel C. (4) Panel D. Q : Example of microeconomic issue Hey Hey friends i need your support for justify the problem that is given below: If the United Auto Workers Union acquires benefit package and a large wage from GM, Ford, and Chrysler which increases the cost of U.S. cars, it is a
Hey friends i need your support for justify the problem that is given below: If the United Auto Workers Union acquires benefit package and a large wage from GM, Ford, and Chrysler which increases the cost of U.S. cars, it is a
What are the causes of the fiscal deficits experienced by many developed nations in the past three years and what are the main effects of the resulting government borrowing? For example – Greece/Ireland/Portugal/Spain situation and the large def
What are the main sources of supply of foreign currencies into domestic economy? Answer: A) Foreigners purchasing home country’s goods and services via exports. B) Foreign investment in home country via
Why are receipts from taxes classified as revenue receipts? Answer: Receipts from taxes are classified as revenue receipts since they do not build liabilities nor r
18,76,764
1951331 Asked
3,689
Active Tutors
1429993
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!