« previous next »

Author Question: Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari ... (Read 109 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 29, 2018
Refer to Table 3-2. The table above shows the demand schedules for caviar of two individuals (Ari and Sonia) and the rest of the market. If the price of caviar falls from 45 to 35, the market quantity demanded would
 
  A) increase by 50 oz. B) decrease by 50 oz. C) decrease by 70 oz. D) increase by 70 oz.

Question 2

If at a price of 50, Ghani sells 20 hand-made leather cell-phone covers but at a price of 60, zero units are sold. Based on this information, the demand for his cell-phone covers is
 
  A) elastic or perfectly elastic. B) unit elastic.
  C) perfectly inelastic. D) elastic or perfectly inelastic.


Li Jun

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

(a) The Dmanisi cranium (right) shows similarities to early African H. erectus including the Narioko (a) The Dmanisi cranium (right) shows similarities to early African H. erectus including the Narioko
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
Use the information in the above table to establish a Born-Haber cycle to determine the ... Use the information in the above table to establish a Born-Haber cycle to determine the ...
A melting profile shows the increase in UV absorption versus temperature A melting profile shows the increase in UV absorption versus temperature
The periodic table and its creator, Dmitry Mendeleyev. The periodic table and its creator, Dmitry Mendeleyev.
Video: Factors that affect conduction rates (myelination, axon diameter & temperature)

For a complete list of videos, visit our video library