« previous next »

Author Question: If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of ... (Read 184 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
on: Jun 29, 2018
If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be
 
  A) less then 0.8 in absolute value.
  B) equal to zero because the DVD of this movie has been out for several years.
  C) equal to 1 in absolute value.
  D) greater than 0.8 in absolute value.

Question 2

Why are checks and credit cards not money?
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


matt95

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

Checks and credit cards are not money because they are not a means of payment. A check is an order to transfer a deposit from one person to another. The deposits are money but the checks are not. A credit card is an ID card that lets a person take out a loan at the instant he or she buys something. The loan still needs to be repaid with money so the credit card is not a means of payment, that is, it is not money.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

burton19126

  • Hero Member
  • *****
  • Posts: 532
Reply #2 on: Jun 29, 2018
Thank you


matt95

  • Sr. Member
  • ****
  • Posts: 317
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
How to use the closed interval method to find absolute maximum and minimum values How to use the closed interval method to find absolute maximum and minimum values
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Video: Arthritis

For a complete list of videos, visit our video library