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

Author Question: In 2006, the base price of a Hummer SUV was about 30,000. By 2008 as gasoline prices increased, ... (Read 438 times)

09madisonrousseau09

  • Hero Member
  • *****
  • Posts: 559
on: Jun 29, 2018
In 2006, the base price of a Hummer SUV was about 30,000. By 2008 as gasoline prices increased,
 
  A) the demand curve for Hummers shifted leftward and Hummer prices decreased.
  B) the demand curve for Hummers shifted rightward and Hummer prices increased.
  C) there was a movement down along the Hummer demand curve.
  D) there was a movement up along the Hummer supply curve.

Question 2

The price elasticity of demand is constant along a straight-line demand curve. Is this statement true or false?
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ErinKing

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

False. The price elasticity of demand decreases when moving downward along a straight-line demand curve.


09madisonrousseau09

  • Member
  • Posts: 559
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Increased exposure to cupric oxide bulk particles (BPs) and nanoparticles (NPs) by radish plants Increased exposure to cupric oxide bulk particles (BPs) and nanoparticles (NPs) by radish plants
In 2006 an Iraqi tribunal convicted Saddam Hussein of murdering his own people and sentenced him to In 2006 an Iraqi tribunal convicted Saddam Hussein of murdering his own people and sentenced him to
Association of Different HLA Alleles and Increased Susceptibility to Autoimmune Diseases Association of Different HLA Alleles and Increased Susceptibility to Autoimmune Diseases
Increased amounts of "screen time" are contributing to decreased amounts of physical ... Increased amounts of "screen time" are contributing to decreased amounts of physical ...
A piece of glass has a thin film of gasoline floating on it. A beam of light is shining ... A piece of glass has a thin film of gasoline floating on it. A beam of light is shining ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Blood Pressure Measurement

For a complete list of videos, visit our video library