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

Author Question: If the demand for a good is perfectly inelastic, then: a. the value of price elasticity of demand ... (Read 103 times)

oliviahorn72

  • Hero Member
  • *****
  • Posts: 579
If the demand for a good is perfectly inelastic, then:
 a. the value of price elasticity of demand of the good is equal to 1.
  b. the value of price elasticity of demand of the good is equal to -1.
  c. the demand curve of the good is nonexistent.
  d. consumers are very responsive to a change in the price of the good.
  e. quantity demanded does not change when price of the good changes.

Question 2

If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
 a. compartmentalizing
  b. self control
 c. rule of thumb
 d. anchoring



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

yasmin

  • Sr. Member
  • ****
  • Posts: 319
Answer to Question 1

e

Answer to Question 2

a




oliviahorn72

  • Member
  • Posts: 579
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

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

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

For a complete list of videos, visit our video library