Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
anhsu anhsu
wrote...
Go to Answer
Posts: 498
Rep: 14 0
5 years ago

Question 1.

Assume that cotton is a normal good. Which of the following would cause both the equilibrium price and equilibrium quantity of cotton to increase?

• an increase in consumer income

• a drought that sharply reduces cotton output

• a decrease in consumer income

• unusually good weather that results in a bumper crop of cotton

Question 2.

Assume that potatoes are an inferior good. Which of the following would cause both the equilibrium price and equilibrium quantity of potatoes to decrease?

• an increase in consumer income

• a freeze that sharply reduces potato output

• a decrease in consumer income

• a technological advancement that results in a bumper crop of potatoes
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 50 times
1 Reply
Replies
Answer verified by a subject expert
GparkerGparker
wrote...
#1
Posts: 383
Rep: 58 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

anhsu Author
wrote...

5 years ago
Helped a lot
Fleury
wrote...

Yesterday
Thanks
jbag1237
wrote...

2 hours ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1322 People Browsing
 107 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 240
  
 1088
  
 146