This topic contains a solution. Click here to go to the answer

Author Question: Which of the following is an example of a how much decision? A) The Zhous have demolished their ... (Read 32 times)

robinn137

  • Hero Member
  • *****
  • Posts: 544
Which of the following is an example of a how much decision?
 
  A) The Zhous have demolished their old home and are debating whether to build a ranch-style house or a Craftsman home.
  B) The Pleasantville movie theatre is open only in the evenings. The theatre's manager is debating whether to add daily matinee shows.
  C) You're planning to hold a graduation party and must decide between having your party catered or having a pot-luck.
  D) Chelsea has withdrawn from the swim team to take a full-time job.

Question 2

Name three determinants of elasticity identified in the text. Explain how each one affects the responsiveness of demand.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yeungji

  • Sr. Member
  • ****
  • Posts: 319
Answer to Question 1

B

Answer to Question 2

(1) Availability of substitutes. Where fewer substitutes are available, demand will tend to be more inelastic. (2) The importance of being unimportant. Where an item represents a smaller portion of a total budget, demand will tend to be more inelastic. (3) The time dimension. The greater the time available to adjust behavior, the more elastic demand tends to be.




robinn137

  • Member
  • Posts: 544
Reply 2 on: Jun 29, 2018
:D TYSM


connor417

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Excellent

 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

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?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

For a complete list of videos, visit our video library