When the price of a good decreases, the budget constraint does not change.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Which of the following is a unique characteristic of the oligopolistic market structure?
a. low barriers to entry b. a large number of firms c. product differentiation d. mutual interdependence among firms
List two ways a risk adverse person may attempt to reduce risks
If a decrease in the price of good Y causes the demand for good Z to decrease, this indicates that...
What will be an ideal response?
In the Santa Rita silver mines in Arizona in 1870, Mexican miners received about $12 per month, while “American” miners received $70. Although the wages of both groups tended to rise over time, the gap persisted until at least 1910. Mexican and American miners did the same work and were equally productive. Economists call this pay differential as
A. prejudicial differentials. B. compensating differentials. C. economic discrimination. D. Lorenz discrimination.