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

Author Question: Elasticity has which special meaning for economists? a. b and c. b. A ratio of percentage changes. ... (Read 13 times)

jace

  • Hero Member
  • *****
  • Posts: 541
on: Jun 30, 2018
Elasticity has which special meaning for economists?
 a. b and c.
  b. A ratio of percentage changes.
  c. How easily prices adjust to market changes.
  d. How price changes as quantities demanded change.
  e. When consumers will no longer react to price changes.

Question 2

Sally is an average shopper, with average income. When she is in the store she buys a few items which cost more than 20, several items which cost between 5 and 20, and many items which cost less than 1 . The price elasticity of Sally's demand for these goods most likely ____.
 a. increases as the price decreases
  b. decreases as the price decreases
  c. increases as the price increases
  d. decreases as the price increases
  e. remains constant over all price ranges


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ahnyah

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

c


jace

  • Member
  • Posts: 541
Reply 2 on: Jun 30, 2018
Excellent

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
Children with disabilities used to be sent to special schools. In a process called mainstreaming or ... Children with disabilities used to be sent to special schools. In a process called mainstreaming or ...
Investment in Computers as a Percentage of GDP, 1982–2009 Investment in Computers as a Percentage of GDP, 1982–2009
Special Education: Contemporary Perspectives for School Professionals, 5th Edition Special Education: Contemporary Perspectives for School Professionals, 5th Edition
Finding the angle from a ratio (Part 1) Finding the angle from a ratio (Part 1)
Male to Female Sex Ratio at Birth vs. PCB Concentration in Maternal Serum Male to Female Sex Ratio at Birth vs. PCB Concentration in Maternal Serum
Video: Spinal Cord Injury Animation

For a complete list of videos, visit our video library