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Author Question: The president of a major nickel-producing company says that an increase in the price of nickel would ... (Read 109 times)

ShannenConnor

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on: Oct 12, 2022

Question 1

Suppose the quantity exchanged of some good is 100 units. If market demand is inelastic at that quantity, total expenditure on this product would be higher if quantity was
◦ greater than 100 units.
◦ kept constant.
◦ minimized.
◦ maximized.
◦ less than 100 units.

Question 2

The president of a major nickel-producing company says that an increase in the price of nickel would have no effect on the total amount spent on nickel. If this is true, the price elasticity of demand for nickel is
◦ less than zero.
◦ infinitely elastic.
◦ exactly one.
◦ more than one.
◦ not calculable from the information given.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by ShannenConnor on Oct 12, 2022

lola.jashay

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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.
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ShannenConnor

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

tranoy

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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