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

Author Question: Ice cream can be frozen. In the short run the magnitude of the own price elasticity of demand for ... (Read 212 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jul 1, 2018
Ice cream can be frozen. In the short run the magnitude of the own price elasticity of demand for ice cream:
 
  A) is higher than in the long run.
  B) is lower than in the short run.
  C) is the same as in the long run.
  D) does not depend on the fact that ice cream can be frozen.

Question 2

All of the payment to a factor of production will be economic rent when the factor of production has:
 
  A) an infinitely inelastic supply curve.
  B) an infinitely elastic supply curve.
  C) a constant, unit elastic supply curve.
  D) an infinitely inelastic demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

stanleka1

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


kfurse

  • Member
  • Posts: 590
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu For ice massage, ice is frozen in a cylindrical container or a paper cup (A). The top half of the cu
Children with Down syndrome have a small head, short, thick neck, flattened face, and a distinctive ... Children with Down syndrome have a small head, short, thick neck, flattened face, and a distinctive ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
2. Given 4 vectors with magnitude of : 2. Given 4 vectors with magnitude of :
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Cellular Defects - Osteoblasts, Osteoclasts and Osteocytes

For a complete list of videos, visit our video library