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 69 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

kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
Young adulthood brings the greatest number of role transitions and highest levels of demands than ... Young adulthood brings the greatest number of role transitions and highest levels of demands than ...
The more air and fuel that can be packed in a cylinder, the greater the density of the air–fuel ... The more air and fuel that can be packed in a cylinder, the greater the density of the air–fuel ...
A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ... A demand delivery system uses a fuel-pressure regulator attached to the fuel pump assembly inside ...
Correlations between scores on a psychology test and number of boiled kumquats eaten per month Correlations between scores on a psychology test and number of boiled kumquats eaten per month
To find the derivative use product rule To find the derivative use product rule
Video: Gas exchange - driving force

For a complete list of videos, visit our video library