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Author Question: Consider Sam and Linda both drive a relatively inefficient sport utility vehicle (SUV). Sam has a ... (Read 160 times)

kwoodring

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on: Jul 1, 2018
Consider Sam and Linda both drive a relatively inefficient sport utility vehicle (SUV). Sam has a lease that doesn't expire for three years whereas Linda owns her sport utility vehicle free and clear. If the price of gasoline was to increase by fifty percent, which of these statements is most likely TRUE?
 
  A) Linda will have a less elastic response than Sam.
  B) Sam will have a less elastic response than Linda.
  C) Sam and Linda will have identically elastic responses.
  D) Sam will have a more elastic response than Linda.

Question 2

Some environmental groups are on record suggesting that the price of gasoline should be much higher than it was in the early 1990s. Why might they say this?
 
  A) They own stock in oil companies.
  B) They anticipate that the longer the price is high, the more elastic the response by consumers will be.
  C) They anticipate that the longer the price is high, the less elastic the response by consumers will be.
  D) They anticipate that higher prices will reduce the price elasticity of supply of oil.
Microeconomics ¦ Perloff ¦ 8th Edition
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xthemafja

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Reply #1 on: Jul 1, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kwoodring

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Reply #2 on: Jul 1, 2018
Correct answers!


xthemafja

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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