« previous next »

Author Question: If the market for bottled spring water is characterized by a very elastic supply curve and a very ... (Read 44 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
on: Jul 1, 2018
If the market for bottled spring water is characterized by a very elastic supply curve and a very inelastic demand curve, an outward shift in the supply curve would be reflected primarily in the form of
 a. higher prices.
  b. higher output.
  c. lower prices.
  d. lower output.

Question 2

If the market for hula-hoops is characterized by a very inelastic supply curve and a very elastic demand curve, an inward shift in the supply curve would be reflected primarily in the form of
 a. higher prices.
  b. higher output.
  c. lower prices.
  d. lower output.


emsimon14

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Layers of Rock Laid Down by Water Layers of Rock Laid Down by Water
Linear dose-response curve Linear dose-response curve
Water as Part of Body Fluids Water as Part of Body Fluids
A Well of Sources for Bottled Water A Well of Sources for Bottled Water
The Kuznets Curve in England and Wales, 1823–1915 The Kuznets Curve in England and Wales, 1823–1915
Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ... Juan's Software Service Company is in a perfectly competitive market. Juan has total fixed ...
Video: Fermentation pathways

For a complete list of videos, visit our video library