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

Author Question: Which of the following is true of a used-car market? A) Sellers have more information than the ... (Read 34 times)

Mimi

  • Hero Member
  • *****
  • Posts: 542
on: Jun 29, 2018
Which of the following is true of a used-car market?
 
  A) Sellers have more information than the buyers.
  B) Gains from trade do not exist in this market.
  C) The cars sold are identical in quality.
  D) There is no consumer surplus in this market.

Question 2

If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
 
  A) indeterminate.
  B) perfectly elastic.
  C) perfectly inelastic.
  D) unit elastic.
  E) none of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

matt

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Mimi

  • Member
  • Posts: 542
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Obtaining protein sequence information with tandem MS Obtaining protein sequence information with tandem MS
Genetic Information Genetic Information
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
A Bluetooth adapter that plugs into the DLC and transmits global OBD II information to a smart phone ... A Bluetooth adapter that plugs into the DLC and transmits global OBD II information to a smart phone ...
The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ... The WISER entry for hydrogen cyanide (bottom). Useful information includes detailed health ...
Video: Electrical changes in the heart

For a complete list of videos, visit our video library