Author Question: If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of ... (Read 148 times)

burton19126

  • Hero Member
  • *****
  • Posts: 532
If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be
 
  A) less then 0.8 in absolute value.
  B) equal to zero because the DVD of this movie has been out for several years.
  C) equal to 1 in absolute value.
  D) greater than 0.8 in absolute value.

Question 2

Why are checks and credit cards not money?
 
  What will be an ideal response?


matt95

  • Sr. Member
  • ****
  • Posts: 317
Answer to Question 1

D

Answer to Question 2

Checks and credit cards are not money because they are not a means of payment. A check is an order to transfer a deposit from one person to another. The deposits are money but the checks are not. A credit card is an ID card that lets a person take out a loan at the instant he or she buys something. The loan still needs to be repaid with money so the credit card is not a means of payment, that is, it is not money.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

For a complete list of videos, visit our video library