« previous next »

Author Question: Explain why short-run demand for frozen fish sticks may be more price elastic in the short run than ... (Read 42 times)

student77

  • Hero Member
  • *****
  • Posts: 567
on: Jul 1, 2018
Explain why short-run demand for frozen fish sticks may be more price elastic in the short run than in the long run.
 
  What will be an ideal response?

Question 2

Explain whether you would expect the elasticity of supply to be highly elastic or inelastic for fresh cut flowers and why.
 
  What will be an ideal response?
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Reply #1 on: Jul 1, 2018
Answer to Question 1

Frozen fish sticks can be stored. If frozen fish sticks go on sale you can buy large quantities and store them in your freezer. Thus, you may be more sensitive to price changes in the short run.

Answer to Question 2

The elasticity of supply is very inelastic for fresh cut flowers. These flowers are perishable and quickly become worthless. The seller will accept almost any market price.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Territorial reef fish compete intensely for space. Territorial reef fish compete intensely for space.
A Whale shark, the world's largest fish, is classified as Vulnerable. A Whale shark, the world's largest fish, is classified as Vulnerable.
Butterfly fish Butterfly fish
Bird eating fish Bird eating fish
Elastic/inelastic #5 Elastic/inelastic #5
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Inflammation

For a complete list of videos, visit our video library