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

Author Question: If output in the calculator market increases by 5 percent when the price increases by more than 5 ... (Read 42 times)

Diane

  • Hero Member
  • *****
  • Posts: 576
on: Jul 1, 2018
If output in the calculator market increases by 5 percent when the price increases by more than 5 percent, then
 a. supply is inelastic
  b. supply is elastic
  c. a small increase in price will cause a leftward shift of the supply curve
  d. a small increase in price will cause a rightward shift of the supply curve
  e. a large increase in price will cause a large shift of the supply curve

Question 2

If the price of a good doubles and quantity supplied triples, then
 a. demand is elastic
  b. demand is inelastic
  c. supply is inelastic
  d. supply is elastic
  e. there is insufficient information to reach any conclusion about the price elasticity of supply


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jazzlynnnnn

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


Diane

  • Member
  • Posts: 576
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ... Harlem’s Promise Academy has a record of graduating and sending to college more than 90 percent ...
Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ... Weak valve springs will produce a normal reading at idle, but as engine speed increases, the needle ...
The signal voltage from a throttle position increases as the throttle is opened because the wiper ... The signal voltage from a throttle position increases as the throttle is opened because the wiper ...
The areas in which reading-associated increases in activity were observed in the fMRI study of ... The areas in which reading-associated increases in activity were observed in the fMRI study of ...
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
Video: Rh blood type and complications during pregnancy & Fertilization

For a complete list of videos, visit our video library