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

Author Question: Which of the following statements contradicts an upward-sloping market-supply curve? a. All people ... (Read 73 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jun 30, 2018
Which of the following statements contradicts an upward-sloping market-supply curve?
 a. All people have backward-bending individual supply curves.
  b. Leisure is more enjoyable than work.
  c. The elasticity of labor supply is larger than the elasticity of labor demand.
  d. To work more means to enjoy less leisure.
  e. The opportunity cost of leisure decreases with an increase in wage rate.

Question 2

In the opinion of many consumers, there are few, if any, substitutes for the popular search engine Google. If Google were to charge consumers for its services, it would face:
 a. a relatively inelastic demand curve.
  b. a relatively elastic demand curve.
  c. a negative income elasticity of demand.
  d. a positive cross elasticity of demand.
  e. a perfectly elastic demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

srodz

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

a


CBme

  • Member
  • Posts: 548
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

blakcmamba

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Earthquakes Don’t Kill People—Collapsing Buildings Do Earthquakes Don’t Kill People—Collapsing Buildings Do
People whose behaviors violate norms are often called mentally ill. “Why else would they do such ... People whose behaviors violate norms are often called mentally ill. “Why else would they do such ...
Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ... Effect-log dose curve for the analgesic action of three narcotics and aspirin. Hydromorphone is more ...
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Government in America: People, Politics, and Policy, AP Government in America: People, Politics, and Policy, AP
Video: Lactation and Breast Feeding

For a complete list of videos, visit our video library