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

Author Question: If the price elasticity of demand is computed for two products, and product A measures .79, and ... (Read 97 times)

Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
on: Jun 30, 2018
If the price elasticity of demand is computed for two products, and product A measures .79, and product B measures 1.6, then:
 a. product A is more price elastic than product B.
  b. product B is more price elastic than product A.
  c. consumers are more sensitive to price changes in product A than in product B.
  d. product B is more price inelastic than product A.
  e. products A and B must be substitutes.

Question 2

The president of Tucker Motors says, Lowering the price won't sell a single additional Tucker car. The president believes that the price elasticity of demand is:
 a. perfectly elastic.
  b. perfectly inelastic.
  c. unitary elastic.
  d. elastic.
  e. inelastic.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tanna.moeller

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

b


Coya19@aol.com

  • Hero Member
  • *****
  • Posts: 601
Reply #2 on: Jun 30, 2018
Thank you


tanna.moeller

  • Sr. Member
  • ****
  • Posts: 328
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

Measures of ocean chlorophyll-a concentrations from part of Atlantic Canada in (a) January 2006, and Measures of ocean chlorophyll-a concentrations from part of Atlantic Canada in (a) January 2006, and
The Railroads: Moving Agricultural Products to Eastern Markets, 1890 The Railroads: Moving Agricultural Products to Eastern Markets, 1890
Young adults with low levels of parental support report significantly better scores on measures of ... Young adults with low levels of parental support report significantly better scores on measures of ...
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The growth in demand for oil in China is driven by the growth in demand for personal transport The growth in demand for oil in China is driven by the growth in demand for personal transport
To find the derivative use product rule To find the derivative use product rule
Video: Anaphylaxis Animation

For a complete list of videos, visit our video library