Econ312 week 2 homework 2018 Study guides, Class notes & Summaries

Question 1 The price of cotton clothing falls. As a result, the demand for cotton clothing decreases. both the demand for cotton clothing increases and the quantity demand of cotton clothing increases. the quantity demanded of cotton clothing increases. the quantity demanded of cotton clothing decreases. the demand for cotton clothing increases. Question 2 If a higher price for wheat decreases the quantity of corn being produced, which of the following describes what has occurred? The quantity o...