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

Author Question: Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case? ... (Read 127 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case?
 
  A) 1
  B) 2
  C) 1/2
  D) 4

Question 2

Jon's income-consumption curve is a straight line from the origin with a positive slope. Now suppose that Jon's preferences change such that his income-consumption curve remains a straight line but rotates 15 degrees clockwise.
 
  Jon's demand curve for the good on the horizontal axis A) will shift left.
  B) will shift right.
  C) will not change.
  D) might do any of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


KWilfred

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jul 1, 2018
Thank you :)


bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

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?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Function and structure of aquaporin Function and structure of aquaporin
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
Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ... Clear the thigh with long strokes. Start superior to the patella; place your full flat hand and ...
Human activity has released carbon from sequestration in long-term reservoirs Human activity has released carbon from sequestration in long-term reservoirs
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: Parkinson's Disease

For a complete list of videos, visit our video library