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

Author Question: The owner of a produce store found that when the price of a head of lettuce was raised from 50 cents ... (Read 111 times)

tfester

  • Hero Member
  • *****
  • Posts: 534
on: Jul 1, 2018
The owner of a produce store found that when the price of a head of lettuce was raised from 50 cents to 1, the quantity sold per hour fell from 18 to 8. The arc elasticity of demand for lettuce is
 
  A) -0.56.
  B) -1.15.
  C) -0.8.
  D) -1.57.

Question 2

Purchasing a season pass to the local symphony
 
  A) is an example of first degree price discrimination.
  B) is an example of second degree price discrimination.
  C) is an example of third degree price discrimination.
  D) All 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

uniquea123

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


tfester

  • Member
  • Posts: 534
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

jordangronback

  • Member
  • Posts: 339
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Three Mechanisms of Gene Transfer Found in Bacteria Three Mechanisms of Gene Transfer Found in Bacteria
A giant squid found at Ranheim in Trondheim 2 October 1954 A giant squid found at Ranheim in Trondheim 2 October 1954
The insect family Coenagrionidae is found in the order Odonata and the suborder Zygoptera. The insect family Coenagrionidae is found in the order Odonata and the suborder Zygoptera.
Wetlands Store and Clean Water Wetlands Store and Clean Water
Pablo Picasso, Study for Les Demoiselles d'Avignon: Head of the Squatting Demoiselle Pablo Picasso, Study for Les Demoiselles d'Avignon: Head of the Squatting Demoiselle
Many countries do not produce enough food and need to import food from the United States Many countries do not produce enough food and need to import food from the United States
Video: EpiPen Animation (Part 1)

For a complete list of videos, visit our video library