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

Author Question: The elasticity of demand for a product is likely to be greater A) the smaller the number of ... (Read 58 times)

tth

  • Hero Member
  • *****
  • Posts: 579
on: Jul 1, 2018
The elasticity of demand for a product is likely to be greater
 
  A) the smaller the number of substitute products available.
  B) the smaller the proportion of one's income spent on the product.
  C) the larger the number of substitute products available.
  D) if the product is an imported good rather than a domestically produced good.

Question 2

If a perfectly competitive firm incurs an economic loss, it should
 
  A) shut down immediately.
  B) try to raise its price.
  C) shut down in the long run.
  D) shut down if this loss exceeds fixed cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Bigfoot1984

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


tth

  • Member
  • Posts: 579
Reply 2 on: Jul 1, 2018
:D TYSM

Kedrick2014

  • Member
  • Posts: 359
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Flower part number is a characteristic difference between monocots and eudicots Flower part number is a characteristic difference between monocots and eudicots
Constructing large motifs from smaller ones Constructing large motifs from smaller ones
Oil and Natural Gas Production from More Wells in Smaller Areas Oil and Natural Gas Production from More Wells in Smaller Areas
The digital image of a fetus shows a well-developed head and a comparatively smaller body. At 7 ... The digital image of a fetus shows a well-developed head and a comparatively smaller body. At 7 ...
Norman Bel Geddes, with Dr. Otto Koller, Air Liner Number 4. Norman Bel Geddes, with Dr. Otto Koller, Air Liner Number 4.
The number of research articles published on the topic of religious practices and spirituality have ... The number of research articles published on the topic of religious practices and spirituality have ...
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library