« previous next »

Author Question: Long-run elasticity of supply is defined as a. percentage change in quantity demanded in the long ... (Read 80 times)

NClaborn

  • Hero Member
  • *****
  • Posts: 560
on: Jul 1, 2018
Long-run elasticity of supply is defined as
 a. percentage change in quantity demanded in the long run divided by percentage change in price.
  b. percentage change in price divided by percentage change in quantity demanded in the long run.
  c. percentage change in quantity supplied in the long run divided by percentage change in price.
  d. percentage change in price divided by percentage change in quantity demanded in the long run.

Question 2

For an increasing cost industry, the long-run supply curve has a(n) elasticity of supply
 a. infinite.
  b. negative.
  c. positive.
  d. zero.


ApricotDream

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age Spotted hyena cubs in Limpopo, South Africa. Note the well defined spots, which will fade with age
Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr Bones change radically in size and shape from newborn to adult, as these cervical vertebrae demonstr
Drag the labels to indicate the change in the size of the reservoir. . . Drag the labels to indicate the change in the size of the reservoir. . .
How Long Does Poverty Last? How Long Does Poverty Last?
Use palms and fingers to brush off along the back of the body from shoulders to feet with long ... Use palms and fingers to brush off along the back of the body from shoulders to feet with long ...
Plot of the percentage of X-linked recessive mutations Plot of the percentage of X-linked recessive mutations
Video: Glucose anabolism reactions: Glycogenolysis and Gluconeogenesis

For a complete list of videos, visit our video library