This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In 2006, the base price of a Hummer SUV was about 30,000. By 2008 as gasoline prices increased, ... (Read 125 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
on: Jun 29, 2018
In 2006, the base price of a Hummer SUV was about 30,000. By 2008 as gasoline prices increased,
 
  A) the demand curve for Hummers shifted leftward and Hummer prices decreased.
  B) the demand curve for Hummers shifted rightward and Hummer prices increased.
  C) there was a movement down along the Hummer demand curve.
  D) there was a movement up along the Hummer supply curve.

Question 2

The price elasticity of demand is constant along a straight-line demand curve. Is this statement true or false?
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ErinKing

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

False. The price elasticity of demand decreases when moving downward along a straight-line demand curve.


09madisonrousseau09

  • Member
  • Posts: 559
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

amandanbreshears

  • Member
  • Posts: 320
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Approximately 500,000 babies are born each year in the United States to teenage mothers.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
The tundra at the base of the Torngat mountains in Labrador consists primarily of low-growing mosses The tundra at the base of the Torngat mountains in Labrador consists primarily of low-growing mosses
Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa Midway Island, an inhospitable atoll acquired in 1867, was valuable as a military base located midwa
A gasoline direct-injection (GDI) fuel rail and pump assembly with the electric pressure control ... A gasoline direct-injection (GDI) fuel rail and pump assembly with the electric pressure control ...
How to solve exponential equations with base e How to solve exponential equations with base e
Schiff base Schiff base
Permafrost: Top layer temperatures increased by as much as 3˚C Permafrost: Top layer temperatures increased by as much as 3˚C
Video: Ear Animation

For a complete list of videos, visit our video library