Microeconomics

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When demand is elastic, an increase in price will lead to an increase in total revenue a. True b. ... Started by neverstopbelieb	1 Replies 125 Views	Jul 1, 2018 by voltaire123
If there is no change in equilibrium price after a 1 per unit tax is imposed on suppliers, demand ... Started by B	1 Replies 24 Views	Jul 1, 2018 by duy1981999
Perfectly elastic demand curves are irrelevant, since real world demand curves are never perfectly ... Started by RYAN BANYAN	3 Replies 51 Views	Jul 1, 2018 by kmb352
A demand curve that is unit elastic everywhere is a. linear and slopes downward b. linear and ... Started by lak	1 Replies 35 Views	Jul 1, 2018 by mochi09
If Katherine claims that when it comes to buying shoes, price is no object, her demand curve for ... Started by gonzo233	1 Replies 39 Views	Jul 1, 2018 by Sophiapenny
The availability of substitutes makes the demand for a good less elastic. a. True b. ... Started by segrsyd	1 Replies 38 Views	Jul 1, 2018 by rnehls
The demand for firewood is likely to be more elastic in the summer than in the winter. a. True b. ... Started by formula1	1 Replies 46 Views	Jul 1, 2018 by yifu223
The more narrowly a product is defined, the less elastic the demand for that product will be. a. ... Started by dakota nelson	1 Replies 95 Views	Jul 1, 2018 by babybsemail
The demand for flounder (a specific type of fish) is a. more elastic than the demand for fish ... Started by RRMR	1 Replies 68 Views	Jul 1, 2018 by ambernicolefink
For which of the following is demand most likely to be price inelastic? a. lamb b. meat c. veal ... Started by JMatthes	1 Replies 26 Views	Jul 1, 2018 by frejo
Demand is more elastic a. in the short run than in the long run b. for necessities than for ... Started by ap345	3 Replies 25 Views	Jul 1, 2018 by akudia
The demand curve for a good that has many perfect substitutes in consumption is likely to be a. ... Started by TFauchery	1 Replies 22 Views	Jul 1, 2018 by Yixagurpuldink
Demand for clothing tends to be a. elastic because there are few substitutes for clothing b. ... Started by codyclark	1 Replies 48 Views	Jul 1, 2018 by cadimas
The more broadly a good is defined a. the more substitutes it has, so demand will be more ... Started by stock	1 Replies 17 Views	Jul 1, 2018 by sultansheikh
The larger the proportion of the consumer's budget that is spent on a product, the more elastic that ... Started by dejastew	1 Replies 41 Views	Jul 1, 2018 by leahchrapun
All other things constant, goods will have more __________ demand if their price uses up a ... Started by tfester	1 Replies 14 Views	Jul 1, 2018 by Li Jun
The demand for flour is a. inelastic because there are few substitutes for flour and it represents ... Started by PhilipSeeMore	1 Replies 57 Views	Jul 1, 2018 by brittanywood
If people have more time to adjust to a price change, the price elasticity of demand for that good ... Started by geoffrey	1 Replies 63 Views	Jul 1, 2018 by bulacsom
The price elasticity of demand for cigarettes by adults is -1.3 while for young smokers it is -0.4 . ... Started by skymedlock	3 Replies 52 Views	Jul 1, 2018 by millet
If price increases from 45 to 55, the market quantity supplied increases from 20 units per week to ... Started by JGIBBSON	1 Replies 91 Views	Jul 1, 2018 by al
Any supply curve that is a straight line passing through the graph's origin is unit elastic. a. ... Started by genevieve1028	1 Replies 23 Views	Jul 1, 2018 by bob
If the price elasticity of supply in the kiwi fruit industry equals 1, supply is a. perfectly ... Started by bobthebuilder	1 Replies 31 Views	Jul 1, 2018 by mjenn52
The supply of paintings by Van Gogh is most likely to be a. of infinite elasticity because supply ... Started by audie	1 Replies 34 Views	Jul 1, 2018 by heinisk01
If output in the calculator market increases by 5 percent when the price increases by more than 5 ... Started by Diane	1 Replies 46 Views	Jul 1, 2018 by jazzlynnnnn
A perfectly elastic supply curve a. has no relevance, since real-world supply curves are never ... Started by ghost!	1 Replies 124 Views	Jul 1, 2018 by bd5255