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Home / Questions / Which of the following statements is true?a)When an economy grows, firms would prefer to be making i

Which of the following statements is true?a)When an economy grows, firms would prefer to be making i

Which of the following statements is true?a)When an economy grows, firms would prefer to be making inferior goods rather than making normal goods.b)If a firm notices that the price of a substitute for its product has fallen, it would prefer the CED between the products to be far from zero rather than close to zero.c)If a firm notices that the price of a complement for its product has risen, it would prefer the CED between the products to be far from zero rather than close to zero.d)If a firm’s costs increase and it has to increase the price of its output, it would prefer demand to be price inelastic rather than price elastic.

 

Apr 25 2020 View more View Less

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