« previous next »

Author Question: The duration of the short-run A) is one year. B) is the same for all goods. C) depends on the ... (Read 88 times)

renzo156

  • Hero Member
  • *****
  • Posts: 526
on: Jul 1, 2018
The duration of the short-run
 
  A) is one year.
  B) is the same for all goods.
  C) depends on the relative short-run elasticity of demand and supply for the good.
  D) depends on how long it takes consumers or firms to adjust for a particular good.

Question 2

As the demand for corn increases to provide input for ethanol production, what is expected to happen to the price elasticity of corn supply?
 
  A) It will decrease.
  B) It will become zero.
  C) It will increase.
  D) It will not change.
Microeconomics ¦ Perloff ¦ 8th Edition
Buy Test-Bank


mbcrismon

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
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
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Chinese Dragon new year 2024 Chinese Dragon new year 2024
Video: Osmosis - Isotonic, Hypotonic, and Hypertonic​ Solutions

For a complete list of videos, visit our video library