« previous next »

Author Question: The short-run elasticity of supply is less than the long-run elasticity of supply A) because ... (Read 77 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
on: Jul 1, 2018
The short-run elasticity of supply is less than the long-run elasticity of supply
 
  A) because consumers' tastes and preferences change in the long run but not in the short run.
  B) because producers can adjust the amount of machinery in the long run but not in the short run.
  C) only for durable goods.
  D) only for nondurable goods.

Question 2

Which of the following goods probably has the lowest (absolute value) short-run price elasticity of demand?
 
  A) fresh fruit
  B) frozen dinners
  C) cars
  D) refrigerators
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


al

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

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o
Transformation and Evolution of a Long-Period Comet Transformation and Evolution of a Long-Period Comet
To maintain balance the bipedal pelvis has a foreshortened ilium and is broader and bowl-shaped. The To maintain balance the bipedal pelvis has a foreshortened ilium and is broader and bowl-shaped. The
Long stroke used in lymphatic facilitation. Long stroke used in lymphatic facilitation.
Who's Policing the Food Supply? Who's Policing the Food Supply?
A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ... A wave whose wavelength is 0.500 m is traveling down a 500-m long wire whose total mass is 25 ...
Video: Normal and abnormal blood pH

For a complete list of videos, visit our video library