« previous next »

Author Question: If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, ... (Read 558 times)

Shelles

  • Hero Member
  • *****
  • Posts: 582
on: Jun 29, 2018
If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, then the demand for golf balls is
 
  A) relatively elastic. B) relatively inelastic. C) perfectly elastic. D) unit elastic.

Question 2

A commodity or token is money if it is ________.
 
  A. generally accepted as means of payment
  B. a store of value
  C. used in a barter transaction
  D. completely safe as a store of value
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


meltdown117

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A Answer A is the definition of money.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Green Balls Green Balls
Decrease in Fertility, 1800–1900 Decrease in Fertility, 1800–1900
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Cereal production in Africa may decrease by as much as 50% by 2080 in some areas Cereal production in Africa may decrease by as much as 50% by 2080 in some areas
Modern machinery has helped farmers increase yields Modern machinery has helped farmers increase yields
A car wash reduced the price of a basic wash as a promotion and test of the market. With the ... A car wash reduced the price of a basic wash as a promotion and test of the market. With the ...
Video: Pneumonia Animation

For a complete list of videos, visit our video library