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Author Question: Suppose you are shown two intersecting demand curves that are drawn on the same scale. At the point ... (Read 70 times)

billyboy7272

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on: Oct 12, 2022
Suppose you are shown two intersecting demand curves that are drawn on the same scale. At the point of intersection, one of the demand curves is steeper than the other. Which of the following could explain the difference in slopes?
◦ The flatter one is for a good with no close substitutes.
◦ The steeper one has a higher income elasticity of demand.
◦ The steeper one applies for the short run, whereas the flatter one applies for the long run.
◦ The steeper one is probably the demand curve for a luxury good.
◦ It is not possible to compare the slopes of different demand curves.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by billyboy7272 on Oct 12, 2022

gyvette

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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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billyboy7272

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Reply 2 on: Oct 12, 2022
Wow, this really help

cassie_ragen

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

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