« previous next »

Author Question: When a good is price inelastic, consumer expenditures on the good A) increase when price ... (Read 82 times)

Tazate

  • Hero Member
  • *****
  • Posts: 532
on: Jul 1, 2018
When a good is price inelastic, consumer expenditures on the good
 
  A) increase when price increases.
  B) decrease when price increases.
  C) do not change when price increases.
  D) are not related to price elasticity of demand.

Question 2

For automobile demand in the U.S., the income response tends to be larger in the:
 
  A) short run.
  B) long run.
  C) The income response is the same in the long run and the short run.
  D) We do not have enough information to answer this question.


xiazhe

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes Browning and Gunning demonstrated that placental transfer tissues increase plant reproductive succes
China’s 8% annual increase in oil consumption China’s 8% annual increase in oil consumption
Analogy for How Magnetic Field Strengths Increase Analogy for How Magnetic Field Strengths Increase
Vegetable oils are good sources of essential fatty acids Vegetable oils are good sources of essential fatty acids
Prevalence of good health in Canadians aged 65 years and older Prevalence of good health in Canadians aged 65 years and older
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Polysaccharides

For a complete list of videos, visit our video library