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

Author Question: The price elasticity of demand for good x is defined as: a. percentage change in px / percentage ... (Read 82 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jul 1, 2018
The price elasticity of demand for good x is defined as:
 a. percentage change in px / percentage change in x.
  b. percentage change in x /percentage change in px.
  c. percentage change in x/percentage change in income.
  d. percentage change in x /percentage change in py.

Question 2

In natural monopoly, AC continuously declines due to economies in distribution or in production, which tends to found in industries which face increasing returns to scale. If price were set equal to marginal cost, then:
 a. price would equal average cost.
  b. price would exceed average cost.
  c. price would be below average cost.
  d. price would be at the profit maximizing level for natural monopoly
  e. all 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

potomatos

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


faduma

  • Member
  • Posts: 528
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

patma1981

  • Member
  • Posts: 292
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

According to the Migraine Research Foundation, migraines are the third most prevalent illness in the world. Women are most affected (18%), followed by children of both sexes (10%), and men (6%).

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Evolutionary change in the tetrapod lineage, showing a transitional form. Evolutionary change in the tetrapod lineage, showing a transitional form.
Piercey-Normore and DePriest discovered that some lichens readily change partners. Piercey-Normore and DePriest discovered that some lichens readily change partners.
Change in air temperature at various air flow rates for a 2 pass operation Change in air temperature at various air flow rates for a 2 pass operation
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ... Good body mechanics when facing the table directly. A. Head and back in alignment. B. Legs and feet ...
Classic Supply - Demand Curve Classic Supply - Demand Curve
Video: Cell mediated immune response to a viral infection Animation

For a complete list of videos, visit our video library