This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case? ... (Read 115 times)

KWilfred

  • Hero Member
  • *****
  • Posts: 570
on: Jul 1, 2018
Suppose the long-run cost function is C = 2q2. What is the cost-output elasticity for this case?
 
  A) 1
  B) 2
  C) 1/2
  D) 4

Question 2

Jon's income-consumption curve is a straight line from the origin with a positive slope. Now suppose that Jon's preferences change such that his income-consumption curve remains a straight line but rotates 15 degrees clockwise.
 
  Jon's demand curve for the good on the horizontal axis A) will shift left.
  B) will shift right.
  C) will not change.
  D) might do any of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


KWilfred

  • Hero Member
  • *****
  • Posts: 570
Reply #2 on: Jul 1, 2018
Thank you :)


bhavsar

  • Sr. Member
  • ****
  • Posts: 351
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

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?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ... Probability of Major Depression as a Function of 5-HTT Allele and Levels of Maltreatment ...
Endochondral ossification of long bone. Endochondral ossification of long bone.
The major cortical input and output pathways of the dorsolateral prefrontal association cortex. ... The major cortical input and output pathways of the dorsolateral prefrontal association cortex. ...
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Differentiation of Inverse Trigonometric Function Differentiation of Inverse Trigonometric Function
Perform the indicated division (long division polynomials) Perform the indicated division (long division polynomials)
Video: Wound Care

For a complete list of videos, visit our video library