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

Author Question: Consider the market supply curve for an agricultural commodity, which is almost perfectly horizontal ... (Read 44 times)

Apple716

  • Full Member
  • ***
  • Posts: 157
on: Oct 12, 2022

Question 1

Consider an industry in which sellers are prepared to sell all they can at the current price. We could say that elasticity of supply is
◦ less than zero.
◦ less than one.
◦ equal to zero.
◦ infinite.
◦ between zero and one.

Question 2

Consider the market supply curve for an agricultural commodity, which is almost perfectly horizontal at the world price of $450 per tonne. We can conclude that sellers in this market
◦ will continue to supply the same quantity regardless of the price.
◦ will not be responsive to a change in the world price.
◦ will supply no amount of the product if the price rises above $450 per tonne.
◦ will supply an infinite amount of the product regardless of the price.
◦ will sell almost no amount of the product if the price drops below $450 per tonne.
Microeconomics ¦ Ragan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Apple716 on Oct 12, 2022

ealonif

  • Full Member
  • ***
  • Posts: 185
Reply #1 on: Oct 12, 2022
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 35% of students answer this correctly


Apple716

  • Member
  • Posts: 157
Reply 2 on: Oct 12, 2022
Gracias!

ricroger

  • Member
  • Posts: 352
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Bell Curve Joke Bell Curve Joke
The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve. The adsorption spectrum of rhodopsin compared with the human scotopic spectral sensitivity curve.
Vertical and Horizontal Changes in Pressure Vertical and Horizontal Changes in Pressure
Perform horizontal stroking of the thigh by facing the table and placing hands on the thigh with ... Perform horizontal stroking of the thigh by facing the table and placing hands on the thigh with ...
The Lorenz Curve for the United States, 2009 The Lorenz Curve for the United States, 2009
Blood Supply to the Lungs Blood Supply to the Lungs
Video: Epidural Hematoma

For a complete list of videos, visit our video library