This topic contains a solution. Click here to go to the answer

Author Question: See Scenario 4.1. What is Daniel's income-consumption curve? A) Pc = Pd B) Pc = Qc C) Qd = I ... (Read 78 times)

Deast7027

  • Hero Member
  • *****
  • Posts: 538
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Chou

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

D

Answer to Question 2

A




Deast7027

  • Member
  • Posts: 538
Reply 2 on: Jul 1, 2018
Wow, this really help


cdmart10

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

For a complete list of videos, visit our video library