« previous next »

Author Question: When a good is price inelastic, consumer expenditures on the good A) increase when price ... (Read 53 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?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
When teenagers live in single-parent homes, a good relationship with grandparents is related to ... When teenagers live in single-parent homes, a good relationship with grandparents is related to ...
Greenhouse gases increase in the stratosphere Greenhouse gases increase in the stratosphere
Almonds and other nuts are also good sources of protein Almonds and other nuts are also good sources of protein
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Effect of an Increase in R&D in the Follower Country on the Steady State Effect of an Increase in R&D in the Follower Country on the Steady State
Video: Structures that affect circulation - arterioles and vasomotor responses and venous return

For a complete list of videos, visit our video library