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

Author Question: Why is the supply of oil more price elastic in the long run? A) New deposits are found. B) ... (Read 39 times)

lunatika

  • Hero Member
  • *****
  • Posts: 548
on: Jul 1, 2018
Why is the supply of oil more price elastic in the long run?
 
  A) New deposits are found.
  B) Better extraction technology is developed.
  C) Firms have the ability to change the amount of all inputs.
  D) All of the above.

Question 2

Electricity accounts for almost 20 of the cost of making steel. A 10 increase in electricity prices results in steel firms decreasing production and thereby demanding 5 less electricity. Over many years, technological innovations can change the way steel firms make steel and reduce the industry's energy requirements. This suggests that the steel industry's short-run elasticity of demand for electricity is probably
 
  A) less than one in absolute terms in the short run.
  B) less than its long-run elasticity of demand for electricity.
  C) Both A and B above.
  D) Neither A nor B above.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jojobee318

  • Sr. Member
  • ****
  • Posts: 298
Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


lunatika

  • Member
  • Posts: 548
Reply 2 on: Jul 1, 2018
Gracias!

coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Vaccines prevent between 2.5 and 4 million deaths every year.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long A young Lipizzan at the Spanish Riding School in training equipment, wearing saddle, bridle and long
) Ornithine and citrulline, which are not found in proteins ) Ornithine and citrulline, which are not found in proteins
Types of Ore Deposits— Metamorphism Types of Ore Deposits— Metamorphism
This is what was found when removing an air filter from a vehicle that had a lack-of-power concern. ... This is what was found when removing an air filter from a vehicle that had a lack-of-power concern. ...
A sampling of the modified and unusual bases found in tRNAs A sampling of the modified and unusual bases found in tRNAs
A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ... A 23 kg mass is connected to a nail on a frictionless table by a massless string 1.3 m long. ...
Video: Conduction of action potentials

For a complete list of videos, visit our video library