« previous next »

Author Question: As the price of good X increases from 5 to 8, quantity demanded falls from 100 to 80. Based upon ... (Read 68 times)

hubes95

  • Hero Member
  • *****
  • Posts: 561
on: Jul 1, 2018
As the price of good X increases from 5 to 8, quantity demanded falls from 100 to 80. Based upon this information we can conclude that the demand for X is
 
  A) elastic.
  B) inelastic.
  C) unit inelastic.
  D) insufficient information for judgment.

Question 2

All points within the production possibilities frontier are
 
  A) unattainable.
  B) efficient.
  C) inefficient.
  D) profitable.


Jsherida

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Menstrual cycle summary based on a 28-day (average) menstrual cycle. Menstrual cycle summary based on a 28-day (average) menstrual cycle.
Female choice of males based on nuptial gifts. Female choice of males based on nuptial gifts.
This chart illustrates the four quadrants in which we can place the relationships between the state This chart illustrates the four quadrants in which we can place the relationships between the state
Performing Transmission-Based Precaution: Isolation Techniques Performing Transmission-Based Precaution: Isolation Techniques
Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ... Touch the test light to the negative (–) terminal of the battery or a good engine ground to check ...
An electrochemical cell is based on these two half-reactions An electrochemical cell is based on these two half-reactions
Video: Oogenesis Animation

For a complete list of videos, visit our video library