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 81 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 :)

shewald78

  • Member
  • Posts: 340
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

Did you know?

Everyone has one nostril that is larger than the other.

Estimated terrestrial net primary productivity across Canada. Estimated terrestrial net primary productivity across Canada.
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
Estimated Daily Protein Needs Estimated Daily Protein Needs
The amino acid lysine has the percent composition 49.3% C, 9.59% H, 19.2% N, and The amino acid lysine has the percent composition 49.3% C, 9.59% H, 19.2% N, and
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
This living protozoan is the common Paramecium multimicronucleatum that moves by means of its numero This living protozoan is the common Paramecium multimicronucleatum that moves by means of its numero
Video: How does asthma work?And How do you treat asthma?

For a complete list of videos, visit our video library