The price of good A goes up. As a result the demand for good B shifts to the left. From this we can infer that:
A) good A is a normal good.
B) good B is an inferior good.
C) goods A and B are substitutes.
D) goods A and B are complements.
E) none of the above
D
Economics
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Fill in the blank(s) with the correct words. Hint: along inside outside
a. Points ________ the production possibilities frontier are possible and efficient. b. Points ________ the production possibilities frontier are possible but not efficient. c. Points ________ the production possibilities frontier are not possible.
Economics
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.
Economics