(Advanced analysis) Answer the question on the basis of the following information. The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q. Refer to the given information. If demand changed from P =
10 - .2Q to P = 7 - .3Q, we can conclude that:
A. demand has increased.
B. demand has decreased.
C. supply will increase.
D. supply will decrease.
Answer: B
Economics
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Your authors state that the rise in the U.S. poverty rate from 2000 to 2010 was primarily caused by
A) the rise of huge corporations and "big box stores" in the consumer goods sector. B) the growing number of students straddled with student loan debt. C) the Great Recession that began in 2008. D) none of the above reasons.
Economics
People buy insurance
a. because they are risk averse. b. to defer consumption. c. because of externalities. d. to maximize their welfare. e. to ensure against poor health.
Economics