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Author Question: The price elasticity of supply of laptop computers equals 1.5 if A) a rightward shift of the ... (Read 72 times)

mp14

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on: Jun 29, 2018
The price elasticity of supply of laptop computers equals 1.5 if
 
  A) a rightward shift of the demand curve for laptops causes the quantity supplied to increase by 1.5 percent.
  B) a rightward shift of the demand curve for laptops causes a 1.5 percent increase in their price.
  C) for every 1 percent that laptop prices increase, computer makers produce another 1.5 percent laptops.
  D) for every 1.00 that laptops increase in price, computer makers produce another 150 laptops.

Question 2

In the short run, a perfectly competitive firm will make an economic profit as long as
 
  A) it maximizes its profit.
  B) P > AVC.
  C) P > AFC.
  D) P > ATC.


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srodz

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


mp14

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Reply 2 on: Jun 29, 2018
Excellent

brbarasa

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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