This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why does the elasticity of demand for a commodity change over ... (Read 15 times)

jparksx

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Why does the elasticity of demand for a commodity change over time?

Question 2

The market power enjoyed by a particular producer depends on the number of firms in the industry.
 a. True
  b. False
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kdiggy

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

Elasticity of demand for a good can change over time, as experience in using it accumulates, information about substitutes becomes available, and the costs of adjusting its use falls.

Answer to Question 2

True


jparksx

  • Member
  • Posts: 570
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

meow1234

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Free energy change during electron transport Free energy change during electron transport
Global Climate Change Global Climate Change
Recent Climate Change Recent Climate Change
Ancient Climate Change Ancient Climate Change
For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ... For each function f(x) = 6x^2 - 4, estimate the instantaneous rate of change for the given ...
Change in the frequency of a lethal recessive allele, a Change in the frequency of a lethal recessive allele, a
Video: Activation Energy - Valence Electrons

For a complete list of videos, visit our video library