« previous next »

Author Question: An economic model is a simplified version of reality used to analyze real-world economic situations. ... (Read 91 times)

silviawilliams41

  • Hero Member
  • *****
  • Posts: 560
on: Jun 29, 2018
An economic model is a simplified version of reality used to analyze real-world economic situations.
 
  Indicate whether the statement is true or false

Question 2

When the price of tortilla chips rose by 10 percent, the quantity of tortilla chips sold fell 4 percent. This indicates that the demand for tortilla chips is
 
  A) inelastic. B) perfectly inelastic. C) elastic. D) unit elastic.
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

silviawilliams41

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 29, 2018
Thank you


deja

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
No problemo


« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

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.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Underwater World Underwater World
Three-cell model Three-cell model
A model of the 70 ribosome, with mRNA and tRNA bound A model of the 70 ribosome, with mRNA and tRNA bound
economic question economic question
economic question economic question
economic question economic question
Video: Dissociative Disorders (Part 2)

For a complete list of videos, visit our video library