Answered

Discover how IDNLearn.com can help you learn and grow with its extensive Q&A platform. Find reliable solutions to your questions quickly and easily with help from our experienced experts.

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 ________________.

Sagot :

Answer:

fall

rise

Explanation:

If the cost of  resource x falls, it becomes cheaper to produce good y. This leads to an increase in supply of y. the supply curve of good y shifts out. As a result, equilibrium price falls and quantity rises

Thank you for being part of this discussion. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. IDNLearn.com provides the best answers to your questions. Thank you for visiting, and come back soon for more helpful information.