[Answered] See Scenario 4.1. What is Daniel's income-consumption curve? A) Pc = Pd B) Pc = Qc C) Qd = I ...

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Author Question: See Scenario 4.1. What is Daniel's income-consumption curve? A) Pc = Pd B) Pc = Qc C) Qd = I ... (Read 79 times)

Deast7027

Hero Member
Posts: 538

on: Jul 1, 2018

See Scenario 4.1. What is Daniel's income-consumption curve?

A) Pc = Pd
B) Pc = Qc
C) Qd = I - 3Qc
D) Qc = Qd
E) all of the above

Question 2

In the long run, new firms can enter an industry and so the supply elasticity tends to be

A) more elastic than in the short run.
B) less elastic than in the short run.
C) perfectly elastic.
D) perfectly inelastic.

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Marked as best answer by a Subject Expert

Chou

Sr. Member
Posts: 335

Reply #1 on: Jul 1, 2018

Answer to Question 1

D

Answer to Question 2

A

Deast7027

Member
Posts: 538

Reply 2 on: Jul 1, 2018

Wow, this really help

at

Member
Posts: 359

Reply 3 on: Yesterday

TYSM

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