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

Author Question: If the percentage change in the quantity supplied of a good is less than the percentage change in ... (Read 120 times)

laurencescou

  • Hero Member
  • *****
  • Posts: 593
If the percentage change in the quantity supplied of a good is less than the percentage change in price of the good, the good is said to have a(n):
 
  A) inelastic supply.
  B) unit elastic supply.
  C) elastic supply.
  D) perfectly elastic supply.

Question 2

Refer to the scenario above. Which of the following statements is true?
 
  A) The discounted value of 3,400 to be received after five years is 3,000.
  B) Tom's return from investing in his friend's project is higher than the amount received from the bank after five years.
  C) Tom's return from investing in the bank is higher than the amount received from his friend's project after five years.
  D) The returns on both investments are likely to be similar and Tom should be indifferent about investing in either options.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Juro

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

A

Answer to Question 2

C





 

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Between 1999 and 2012, American adults with high total cholesterol decreased from 18.3% to 12.9%

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

For a complete list of videos, visit our video library