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Author Question: FIGURE 4-3Refer to Figure 4-3, which shows a demand shift and the short-run and long-run supply ... (Read 49 times)

wqwpfwpoefnpwenf

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on: Oct 12, 2022

Question 1

Suppose an increase in demand for web-design service in Canada increases the price from $110 per hour to $140 per hour and hours of service delivered increases from 350 000 hours to 650 000 hours. What is the elasticity of supply for this service?
◦ 2.3
◦ 4.4
◦ 0.23
◦ 2.5
◦ 0.4

Question 2




FIGURE 4-3

Refer to Figure 4-3, which shows a demand shift and the short-run and long-run supply curves for some good. The diagram illustrates the general principle that


◦ supply is more elastic in the long run.
◦ demand is more elastic in the long run.
◦ both demand and supply are less elastic in the long run.
◦ supply is less elastic in the long run.
◦ demand is less elastic in the long run.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by wqwpfwpoefnpwenf on Oct 12, 2022

mllong

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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wqwpfwpoefnpwenf

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Reply 2 on: Oct 12, 2022
:D TYSM

laurnthompson

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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