EBK MACROECONOMICS
12th Edition
ISBN: 8220100663307
Author: PARKIN
Publisher: PEARSON
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Question
Chapter 3, Problem 15APA
To determine
Classification of goods.
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Which of the following pairs of goods are most likely substitutes?
a.
Cola and lemon lime soda
b.
Lettuce and salad dressing
c.
Peanut butter and gasoline
d.
Compact discs and compact disc players
If peas and beans are substitute goods, an increase in the cost of production of peas will
most likely result in
a. an increase in demand for beans and a decrease in supply of peas.
b. an increase in demand for beans and a decrease in the quantity demanded of peas.
c. an increase in the quantity supplied of beans, and a decrease in the supply of peas.
1 i .The price for iPhones in Barbados has increased significantly. Demand for thecellular device has also increased. This is contrary to the law of demand. Doyou agree or disagree? Explain your answer
ii.
Chapter 3 Solutions
EBK MACROECONOMICS
Ch. 3.1 - Prob. 1RQCh. 3.1 - Prob. 2RQCh. 3.1 - Prob. 3RQCh. 3.2 - Prob. 1RQCh. 3.2 - Prob. 2RQCh. 3.2 - Prob. 3RQCh. 3.2 - Prob. 4RQCh. 3.2 - Prob. 5RQCh. 3.3 - Prob. 1RQCh. 3.3 - Prob. 2RQ
Ch. 3.3 - Prob. 3RQCh. 3.3 - Prob. 4RQCh. 3.3 - Prob. 5RQCh. 3.4 - Prob. 1RQCh. 3.4 - Prob. 2RQCh. 3.4 - Prob. 3RQCh. 3.4 - Prob. 4RQCh. 3.4 - Prob. 5RQCh. 3.5 - Prob. 1RQCh. 3.5 - Prob. 2RQCh. 3.5 - Prob. 3RQCh. 3 - Prob. 1SPACh. 3 - Prob. 2SPACh. 3 - Prob. 3SPACh. 3 - Prob. 4SPACh. 3 - Prob. 5SPACh. 3 - Prob. 6SPACh. 3 - Prob. 7SPACh. 3 - Prob. 8SPACh. 3 - Prob. 9SPACh. 3 - Prob. 10SPACh. 3 - Prob. 11APACh. 3 - Prob. 12APACh. 3 - Prob. 13APACh. 3 - Prob. 14APACh. 3 - Prob. 15APACh. 3 - Prob. 16APACh. 3 - Prob. 17APACh. 3 - Prob. 18APACh. 3 - Prob. 19APACh. 3 - Prob. 20APACh. 3 - Prob. 21APACh. 3 - Prob. 22APACh. 3 - Prob. 23APACh. 3 - Prob. 24APACh. 3 - Prob. 25APACh. 3 - Prob. 26APACh. 3 - Prob. 27APA
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