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

Author Question: Refer to Scenario 3 . What is the maximum potential increase in coconut production and maximum ... (Read 128 times)

viki

  • Hero Member
  • *****
  • Posts: 525
on: Jun 29, 2018
Refer to Scenario 3 . What is the maximum potential increase in coconut production and maximum potential increase in hut production described in the previous question?
 
  What will be an ideal response?

Question 2

Is demand more elastic in the short run or the long run? Why?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Expo

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 29, 2018
Answer to Question 1

The maximum potential increase in production is either one more hut or 25 more coconuts.

Answer to Question 2

Demand is generally more elastic in the long run. In the long run, people have time to make adjustments to changes in price and find alternative products.


viki

  • Member
  • Posts: 525
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

mohan

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

A possible “RNA world” scenario A possible “RNA world” scenario
Cotton Production and Slave Population, 1800–1860 Cotton Production and Slave Population, 1800–1860
Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change Distance from Initial Change in Membrane Potential vs. Voltage Change Relative to Initial Change
Production of ATP in Skeletal Muscle Production of ATP in Skeletal Muscle
A comparison of sperm production and egg production in humans A comparison of sperm production and egg production in humans
Ethylene Production During Strawberry Ripening Ethylene Production During Strawberry Ripening
Video: Hormonal regulation of blood pressure - RAA system

For a complete list of videos, visit our video library