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

Author Question: In perfect competition, each individual firm faces ________ demand curve. A) an inelastic B) an ... (Read 88 times)

Beheh

  • Hero Member
  • *****
  • Posts: 520
on: Jun 29, 2018
In perfect competition, each individual firm faces ________ demand curve.
 
  A) an inelastic
  B) an upward sloping
  C) a perfectly elastic
  D) a downward sloping

Question 2

The above table gives the demand schedule for Billy Bob's BBQ ribs. The price elasticity of demand for Billy Bob's ribs over the price range of 3 to 1 is equal to
 
  A) 4.00.
  B) 2.00.
  C) 0.50.
  D) 0.25.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fauacakatahaias

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


Beheh

  • Member
  • Posts: 520
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

shailee

  • Member
  • Posts: 392
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

A theoretical photosynthetic response curve. A theoretical photosynthetic response curve.
Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa Zonal wind speeds on Uranus. Shaded areas show the southern collar and its future northern counterpa
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
Individual Tubule Functions Individual Tubule Functions
Growth in the demand for oil from the developing world Growth in the demand for oil from the developing world
The Kuznets Curve The Kuznets Curve
Video: Introduction to Sleep Apnea

For a complete list of videos, visit our video library