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JisselFlores JisselFlores
wrote...
Posts: 356
A week ago

Question 1.

In general, the supply curve for a natural resource



is vertical.



slopes upward.



is horizontal.



slopes downward to reflect decreasing available quantities over time.



Question 2.

Suppose $1 billion is available in the budget and Congress is considering allocating the funds to one of the following three alternatives:

a.

subsidies for education

b.

research on Alzheimer's

c.

increased border security


If voters prefer a to b and b to c, then if preferences are transitive,



they should be indifferent between a and c.



they should prefer a to c.



they should prefer c to a.



it is not always possible to rank voters' preferences between a and c.

Textbook 

InMicro


Edition: 1st
Authors:
Read 48 times
1 Reply
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Answer verified by a subject expert
KaajalpKaajalp
wrote...
Posts: 281
A week ago
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Answer 1

slopes upward.



Answer 2

they should prefer a to c.

1

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