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

Author Question: The recent reduction in the price of oil has increased the demand for foreign automobiles. Based on ... (Read 35 times)

lbcchick

  • Hero Member
  • *****
  • Posts: 550
on: Jun 29, 2018
The recent reduction in the price of oil has increased the demand for foreign automobiles. Based on this statement, what may be concluded about price, cross-price, or income elasticity of demand?
 
  What will be an ideal response?

Question 2

Rate of return regulation is typically imposed on
 
  A) monopolistically competitive firms.
  B) an oligopoly.
  C) a natural monopoly.
  D) perfectly competitive firms.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

peter

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

The cross-price elasticity of demand between foreign automobiles and oil is negative, suggesting complementary products.

Answer to Question 2

C


lbcchick

  • Member
  • Posts: 550
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

abro1885

  • Member
  • Posts: 337
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Hand Washing Using an Alcohol-Based Rub Hand Washing Using an Alcohol-Based Rub
The same star field photographed with (a) a ground-based telescope, which is subject to poor seeing The same star field photographed with (a) a ground-based telescope, which is subject to poor seeing
Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2 Ethnic Differences in Financial Support for College Based on a sample of 304 emerging adults aged 2
Effects of septal defects: (A) normal shunt; no cyanosis; (B) increased pressure in right ventricle; ... Effects of septal defects: (A) normal shunt; no cyanosis; (B) increased pressure in right ventricle; ...
Association of Different HLA Alleles and Increased Susceptibility to Autoimmune Diseases Association of Different HLA Alleles and Increased Susceptibility to Autoimmune Diseases
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: Coaductile pathway, Timing of contraction signal & Conduction system and ECG

For a complete list of videos, visit our video library