Author Question: Ceteris paribus, if a 20 percent increase in the price of shoes leads to a 10 percent increase in ... (Read 102 times)

nelaaney

  • Hero Member
  • *****
  • Posts: 560
Ceteris paribus, if a 20 percent increase in the price of shoes leads to a 10 percent increase in the quantity supplied of shoes, then the price elasticity of supply is equal to _____.
 a. 2
  b. 20
  c. 10
  d. 0.5
  e. 0.2

Question 2

An increase in the price of raw materials will shift both the MC and the ATC curves upward.
 a. True
  b. False
  Indicate whether the statement is true or false



josephsuarez

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

d

Answer to Question 2

True



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

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?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

For a complete list of videos, visit our video library