What is the factor substitution effect?
What will be an ideal response?
The factor substitution effect is the tendency of firms to substitute away from a factor whose price has risen and toward a factor whose price has fallen.
Economics
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Which of the following is not a store of value?
a. Dollar bills. b. Credit card. c. Coins. d. Gold.
Economics
Refer to the below graph. A change from Point A to Point C represents a(n)
a. increase in supply.
b. decrease in supply.
c. increase in quantity supplied.
d. decrease in quantity supplied.
Economics