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

Author Question: The short-run price elasticity of demand for refrigerators is relatively inelastic. Indicate ... (Read 52 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
on: Jul 1, 2018
The short-run price elasticity of demand for refrigerators is relatively inelastic.
 
  Indicate whether the statement is true or false

Question 2

For all goods, the long run demand curve is always more elastic than the short run demand curve.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

s.meritte

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jul 1, 2018
Answer to Question 1

False. People can put off buying a refrigerator in the short run. Therefore demand is elastic in the short run.

Answer to Question 2

False. Goods that can be easily stored may have a more elastic short run demand curve than long run.


danielfitts88

  • Member
  • Posts: 535
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

alexanderhamilton

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

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

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

A Tibetan wolf killed in 1938. Note the proportionately short legs A Tibetan wolf killed in 1938. Note the proportionately short legs
Effect of Perceived Price of a Drug on Placebo Analgesia Effect of Perceived Price of a Drug on Placebo Analgesia
Alan Price - Poor People Alan Price - Poor People
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Short Table of Laplace Tranforms Short Table of Laplace Tranforms
Short form of amino acids Short form of amino acids
Video: Mitosis step-by-step

For a complete list of videos, visit our video library