QUESTION 5 3.45 points A change in the of a good or service leads to a change in

Question

QUESTION 5 3.45 points A change in the of a good or service leads to a change in that leads to a price; quantity demanded along the demand curve b quantity supply C demand quantityd change in demand demanded, change in demand supply change in price QUESTION 6 Refer to the figure below 90 40 RO Plasma televisions For this economy to move from Point C to Point B reduced by 20 LCD TVs could be produced when the production of plasma TVs is a fewer than 30 b exactly 30 exactly 60 dm more than 30 Click Saue and Submit to sapt arid Save All Answers O Type here to search

Explanation / Answer

1. a. price, quantity demanded, movement along the demand curve.

Price is the only factor which leads to a change in the quantity demanded, and a movement along the demand curve is observed.

2. d. more than 30 units of LCD TV

This is because of the law of diminishing marginal rate of transformation. This means that when a person has more of a product(LCD TV at B), he is willing to sacrifice more of this particular good, in order to produce one more unit of another good.

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.