This topic contains a solution. Click here to go to the answer

Author Question: The short-run price elasticity of demand for refrigerators is relatively inelastic. Indicate ... (Read 43 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
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
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
Great answer, keep it coming :)


vickyvicksss

  • Member
  • Posts: 351
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

For a complete list of videos, visit our video library