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

Author Question: The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is ... (Read 49 times)

MirandaLo

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is 1.25, the price of new cars will fall by
 
  A) 2.5 percent.
  B) 8 percent.
  C) 10 percent.
  D) 12.5 percent.

Question 2

The existence of economies of scale can create ________.
 
  A) a natural monopoly
  B) a government monopoly
  C) a legal monopoly
  D) a market in which many firms make identical products


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kswal303

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


MirandaLo

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Excellent

sultana.d

  • Member
  • Posts: 320
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage, During the Pullman strike in Chicago, workers protesting wage cuts did $340,000 in property damage,
Percent of Mothers in the Workforce by Age of Children and Marital Status Percent of Mothers in the Workforce by Age of Children and Marital Status
Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading. Adding additional amounts of ethyl alcohol (ethanol) increases the frequency reading.
How to solve simple percent word problems (Part 1) How to solve simple percent word problems (Part 1)
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Video: Reflex arc construction

For a complete list of videos, visit our video library