« previous next »

Author Question: When a good is price inelastic, consumer expenditures on the good A) increase when price ... (Read 42 times)

Tazate

  • Hero Member
  • *****
  • Posts: 532
on: Jul 1, 2018
When a good is price inelastic, consumer expenditures on the good
 
  A) increase when price increases.
  B) decrease when price increases.
  C) do not change when price increases.
  D) are not related to price elasticity of demand.

Question 2

For automobile demand in the U.S., the income response tends to be larger in the:
 
  A) short run.
  B) long run.
  C) The income response is the same in the long run and the short run.
  D) We do not have enough information to answer this question.


xiazhe

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

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 term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Kneeling on one knee to keep good alignment when massaging the arms and hands. Kneeling on one knee to keep good alignment when massaging the arms and hands.
Good Old War - Part Of Me [Audio] Good Old War - Part Of Me [Audio]
A variety of sugar substitutes is available to the consumer A variety of sugar substitutes is available to the consumer
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
"The Department of Agriculture came out today with its prediction for food price "The Department of Agriculture came out today with its prediction for food price
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library