This topic contains a solution. Click here to go to the answer

Author Question: The supply curve for CDs shows the A) minimum price that consumers are willing to pay if a given ... (Read 126 times)

Pineapplelove6

  • Hero Member
  • *****
  • Posts: 560
The supply curve for CDs shows the
 
  A) minimum price that consumers are willing to pay if a given quantity of CDs is available.
  B) maximum price that consumers are willing to pay if a given quantity of CDs is available.
  C) maximum price that producers must be offered to get them to produce a given quantity of CDs.
  D) minimum price that producers must be offered to get them to produce a given quantity of CDs.

Question 2

The marketing people for AT&T believe that if they lower the price of long-distance phone calls by 5 percent, their quantity demanded will increase by 15 percent. If they are correct in their belief, then
 
  A) the demand for long-distance phone calls is price inelastic.
  B) the total revenue from long-distance phone calls will increase if they lower the price.
  C) the demand for long-distance phone calls is income elastic.
  D) the total revenue from long-distance phone calls will decrease if they lower the price.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wtf444

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

D

Answer to Question 2

B




Pineapplelove6

  • Member
  • Posts: 560
Reply 2 on: Jun 29, 2018
Wow, this really help


ryhom

  • Member
  • Posts: 366
Reply 3 on: Yesterday
Excellent

 

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

The shortest mature adult human of whom there is independent evidence was Gul Mohammed in India. In 1990, he was measured in New Delhi and stood 22.5 inches tall.

For a complete list of videos, visit our video library