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Author Question: For goods and services that are perfect substitutes, the consumer's indifference curves are ________ ... (Read 126 times)

michelleunicorn

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on: Jun 29, 2018
For goods and services that are perfect substitutes, the consumer's indifference curves are ________ lines.
 
  A) straight, negatively sloped
  B) L-shaped
  C) negatively sloped, bowed-outward
  D) negatively sloped, bowed-inward

Question 2

Redbox rents DVDs for 1 per day via self-service kiosks located across the United States. The CFO of Redbox wants to identify how responsive consumers are to an increase or decrease in the daily price of a rental.
 
  The economic concept the CFO wants to understand is A) price elasticity of demand.
  B) elasticity of supply.
  C) changes in demand.
  D) changes in supply.


xiazhe

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


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