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Author Question: Butch's Barber Shop knows that it faces an elasticity of demand equal to 3.0 over the relevant range ... (Read 58 times)

jasdeep_brar

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on: Jun 30, 2018
Butch's Barber Shop knows that it faces an elasticity of demand equal to 3.0 over the relevant range of its demand curve. A 1 increase in its price will do what to the number of haircuts demanded from Butch's Barber Shop?
 a. It will increase by 0.33
  b. It will increase by 3.0
 c. It will decrease by 0.33
  d. It will decrease by 3.0

Question 2

Which of the following is the Fed's most common way to change the money supply?
 a. Moral suasion
 b. The discount rate
 c. The required reserve rate
  d. Open market operations


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connor417

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


jasdeep_brar

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

zacnyjessica

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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