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 82 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
Gracias!

xiazhe

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a Diabetes mellitus. The metabolic disease diabetes mellitus, with symptoms of polydipsia, polyuria, a
In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai In 2013, Americans learned that the federal government massively surveys their phone calls and e-mai
A steady needle reading that drops 2 or 3 inches Hg when the engine speed is increased slightly ... A steady needle reading that drops 2 or 3 inches Hg when the engine speed is increased slightly ...
Prevalence of drug use in the United States. Figures are based on a survey of people 12 years of age ... Prevalence of drug use in the United States. Figures are based on a survey of people 12 years of age ...
Permafrost: Top layer temperatures increased by as much as 3˚C Permafrost: Top layer temperatures increased by as much as 3˚C
Water-based Diseases Water-based Diseases
Video: Neural Reflex Arc Animation

For a complete list of videos, visit our video library