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Author Question: Given the information in Scenario 4.3, it would be correct to say that demand is: A) infinitely ... (Read 86 times)

Anajune7

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on: Jul 1, 2018
Given the information in Scenario 4.3, it would be correct to say that demand is:
 
  A) infinitely elastic.
  B) elastic, but not infinitely elastic.
  C) unit elastic (Ep = -1).
  D) inelastic, but not completely inelastic.
  E) completely inelastic.

Question 2

Under Scenario 18.1, suppose the body of water lies on an international boundary, and the fishermen speak a different language than the factory managers. The efficient outcome cannot be achieved if the cost of hiring translators for both parties:
 
  A) is less than 4,000.
  B) equals 5,000.
  C) is greater than 6,000.
  D) none of the above


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ky860224

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

C


Anajune7

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

alexanderhamilton

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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