What is meant by comparative? statics? Explain with an example.
A. A change in an outcome, such as consumption, that results from a change in a factor, such as the price.
B. The effect of the best feasible choice, such as consumption, on its marginal cost.
C. Changes in net benefits when a person switches from one alternative, such as consumption, to another, such as no consumption.
D. Equilibria across multiple? markets, such as labor? markets, financial? markets, and service markets.
A. A change in an outcome, such as consumption, that results from a change in a factor, such as the price.
You might also like to view...
How do labor unions influence wage rates?
What will be an ideal response?
The most volatile component of total investment spending is ________
A) construction spending by firms B) spending by firms on equipment C) residential construction by households D) inventory investment
A monopolist will maximize its profits by charging a higher price for customers with a price elasticity of
A) 0.7. B) 1. C) 1.5. D) 10.
The L in OLI theory stands for loyalty, and this factor makes it more difficult for firms to substitute foreign operations for domestic as they fear a loss of sales due to negative publicity
Indicate whether the statement is true or false