Answer:
The answer is D. The change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power
Explanation:
Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.
For example, if the price of Pepsi were to rise, the substitution effect would cause the consumer to buy less of it and substitute more coca-cola for now relatively more expensive Pepsi.
Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).
Answer:
It's represented by a movement along the demand curve
Answer: underallocated because long-run equilibrium occurs where price exceeds marginal cost.
Explanation:
Monopolistic competition occurs when there are many firms that are producing products that are differentiated. It should also be noted that one typical characteristics of a monopolistic competition is a large number of firms coupled with low entry barriers.
It should be noted that in monopolistically competitive markets, resources are underallocated because long-run equilibrium occurs where price exceeds marginal cost..
Answer:
A) . It is going to be a while before things get better in the United States.
Explanation:
1: A-merge
2: B- possible misspelled word
3: A- spark line
4: B
5: C- moves down one cell
