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

Author Question: The price elasticity of demand for oil is estimated at 0.05. This value means a 10 percent increase ... (Read 41 times)

a0266361136

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
The price elasticity of demand for oil is estimated at 0.05. This value means a 10 percent increase in the
 
  A) quantity of oil demanded will result from a 0.5 percent increase in the price of oil.
  B) quantity of oil demanded will result from a 0.5 percent decrease in the price of oil.
  C) price of oil will increase the quantity of oil demanded by 0.5 percent.
  D) price of oil will decrease the quantity of oil demanded by 0.5 percent.

Question 2

Airbus is an European jet airline producer. Indian Airlines wants to buy 23 Airbus planes from Airbus, due to increased demand for world travel. As a result, the
 
  A) demand curve for euros shifts rightward.
  B) demand curve for euros shifts leftward.
  C) supply curve for euros shifts rightward.
  D) quantity demanded for euros decreases.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akpaschal

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


a0266361136

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Bipolar disease. The term bipolar means “pertaining to two poles.” The individual with this form of Bipolar disease. The term bipolar means “pertaining to two poles.” The individual with this form of
Gangrene of the toes and foot as a result of an infection often means eventual amputation. Gangrene of the toes and foot as a result of an infection often means eventual amputation.
Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo
The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
The Increase in Divorce The Increase in Divorce
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Video: Cognitive development by Piaget (Preoperational stage or intelligence)

For a complete list of videos, visit our video library