Resource X Is Necessary to the Production of Good Y

question 73

Multiple Choice

Resource X is necessary to the production of good Y.If the price of resource X falls,the equilibrium price of Y will ______________ and the equilibrium quantity of Y will ________________.

• A) rise; rise
• B) fall; fall
• C) fall; rise
• D) rise; fall

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Definitions:

Financial Statement

A formal record of the financial activities and position of a business, individual, or other entity, typically including the balance sheet, income statement, and statement of cash flows.

Income Statement

A financial statement that reports a company’s financial performance over a specific accounting period, showing income, expenses, and net profit or loss.

Cash Subscriptions

Funds received from investors in exchange for new shares of stock when a company goes through a capital raising event.

Statement of Cash Flows

A document summarizing the comprehensive cash income from operational and external investment activities, and the cash expenditures on business operations and investments within a set period for a company.