« previous next »

Author Question: Since demand is more inelastic for products that represent a smaller share of your income, which one ... (Read 26 times)

folubunmi

  • Hero Member
  • *****
  • Posts: 524
on: Jul 1, 2018
Since demand is more inelastic for products that represent a smaller share of your income, which one of the following is true?
 a. the demand for shoe laces is more elastic than the demand for shoes
  b. The demand for oil changes is more inelastic than the demand for cars
 c. the demand for ear buds is more elastic than the demand for ipods
  d. the demand for Salt has a more elastic than the demand than meat

Question 2

In a two-person repeated game, a tit-for-tat strategy is
 a. When each player pursues his or her own self-interest without any cooperation
 b. When players start off as non-cooperative and then cooperate when one or both players show interest in colluding
  c. When players start off by cooperating and then mimic the other player's last move
 d. With neither players defecting


amandanbreshears

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Illustration of an embolus floating in an artery. The embolus will become lodged in a blood vessel t Illustration of an embolus floating in an artery. The embolus will become lodged in a blood vessel t
We are in the midst of the globalization of capitalism. The explosion that is sending products ... We are in the midst of the globalization of capitalism. The explosion that is sending products ...
Natural Products Natural Products
Where’s the Saturated Fat in Your Foods? Saturated fat is found in animal products, tropical oils Where’s the Saturated Fat in Your Foods? Saturated fat is found in animal products, tropical oils
Determination of Income Inequality Determination of Income Inequality
How many carboxylic acids and esters share the molecular formula C2H4O2? How many carboxylic acids and esters share the molecular formula C2H4O2?
Video: Electrocardiogram Examination

For a complete list of videos, visit our video library