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

Author Question: Refer to Scenario 2 . Over a long period of time, in the absence of any restrictions in the market, ... (Read 85 times)

jazziefee

  • Hero Member
  • *****
  • Posts: 505
on: Jun 29, 2018
Refer to Scenario 2 . Over a long period of time, in the absence of any restrictions in the market, would you expect the price elasticity of demand for crabs to be more elastic or inelastic? Explain.
 
  What will be an ideal response?

Question 2

Refer to Figure 3-1. An increase in the expected future price of the product would be represented by a movement from
 
  A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mjbamaung

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jun 29, 2018
Answer to Question 1

The longer the period of time, the price elasticity of demand will be greater as everyone has time to adjust and more goods become available for substitution.

Answer to Question 2

C


jazziefee

  • Member
  • Posts: 505
Reply 2 on: Jun 29, 2018
Excellent

jomama

  • Member
  • Posts: 346
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o Testing the effects of long-term fertilizing on inter-actions between mycorrhizal fungi and plants o
Night Attack on the Sanjo Palace (detail), from the Scrolls of Events of the Heiji Period. Night Attack on the Sanjo Palace (detail), from the Scrolls of Events of the Heiji Period.
Shy children often have a high arousal level in novel social situations. Over time, parents can help ... Shy children often have a high arousal level in novel social situations. Over time, parents can help ...
Anthroposphere Quarterly Period Anthroposphere Quarterly Period
Disitive Time For Milk Products Disitive Time For Milk Products
Embryonic Period - 5th week Embryonic Period - 5th week
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library