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Author Question: Price elasticity of demand and price elasticity of supply are both influenced by a. the ... (Read 198 times)

Evvie72

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on: Jul 1, 2018
Price elasticity of demand and price elasticity of supply are both influenced by
 a. the availability of close substitutes for the product
  b. the proportion of the consumer's budget spend on the product
  c. the length of the adjustment period considered
  d. technological conditions such as the additional costs of increasing production
  e. none of the above

Question 2

The price elasticity of today's supply curve of classrooms on campus is likely to
 a. be greater than 1
  b. be less than 1
  c. be equal to 1
  d. approach zero
  e. be infinity


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BUTTHOL369

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

D


Evvie72

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Reply #2 on: Jul 1, 2018
Thank you


BUTTHOL369

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Reply #3 on: Jul 1, 2018
No problemo


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