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

Author Question: Assume that price of petrol increases by 50% and remains at the new higher level. Which of the ... (Read 28 times)

asd123

  • Hero Member
  • *****
  • Posts: 557
on: May 25, 2020
Assume that price of petrol increases by 50% and remains at the new higher level. Which of the following statements is TRUE?
◦ Demand for petrol will increase after people adjust to the new higher price.
◦ Initially after the price change the price elasticity of demand will be more elastic than it will be a few years after the price change.
◦ Price elasticity of demand for petrol will not be affected by the change in the price of petrol over the long run.
◦ Initially after the price change the price elasticity of demand will be less elastic than it will be a few years after the price change.
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by asd123 on May 25, 2020

kalskdjl1212

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


asd123

  • Member
  • Posts: 557
Reply 2 on: May 25, 2020
:D TYSM

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

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?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Three routes of tissue-level transport in plants: transmembrane, symplastic, and apoplastic. Three routes of tissue-level transport in plants: transmembrane, symplastic, and apoplastic.
A biological profile from the bony remains of an individual may be preferable to a DNA profile for a A biological profile from the bony remains of an individual may be preferable to a DNA profile for a
Oil pressure relief valves are spring loaded. The stronger the spring tension, the higher the oil ... Oil pressure relief valves are spring loaded. The stronger the spring tension, the higher the oil ...
Higher-Order Conditioning Higher-Order Conditioning
A Drug’s Plateau Level A Drug’s Plateau Level
An antique painting is purchased in 1980 for $995. The value increases by 3.1% e An antique painting is purchased in 1980 for $995. The value increases by 3.1% e
Video: Introduction to filtration - filtrate formation and composition

For a complete list of videos, visit our video library