« previous next »

Author Question: Suppose the value of price elasticity of demand for goods manufactured by firms A, B, C, and D are ... (Read 70 times)

roselinechinyere27m

  • Hero Member
  • *****
  • Posts: 557
on: Jun 30, 2018
Suppose the value of price elasticity of demand for goods manufactured by firms A, B, C, and D are 0, -0.8, -1, and -1.5 respectively. The demand for the good will be elastic for:
 a. firms A, B, C, and D.
  b. firms B, C, and D.
  c. only firm A.
  d. firms C and D only.
  e. only firm D.

Question 2

If both prices increase by 10 percent and money income remains constant, the budget line for both goods in question will:
 a. become steeper
 b. become flatter
 c. will have the same slope
  d. will become vertical.


miss_1456@hotmail.com

  • Sr. Member
  • ****
  • Posts: 289
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

The average adult has about 21 square feet of skin.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Cavernous Sinus Larynx Middle Ear Orbit: Granulesm Animation

For a complete list of videos, visit our video library