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 135 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
Thanks for the timely response, appreciate it

Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

The average office desk has 400 times more bacteria on it than a toilet.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

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.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

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.

Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo Risks of infectious disease increase in (a) high-density agricultural populations compared to (b) lo
Ion channels in myocardial cells: (a) resting state before action potential (all channel gates ... Ion channels in myocardial cells: (a) resting state before action potential (all channel gates ...
IPCC Temperature Increase Predictions Relative to 1986-2005 IPCC Temperature Increase Predictions Relative to 1986-2005
Factors that Increase Cardiac Output Factors that Increase Cardiac Output
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: DNA close up Animation

For a complete list of videos, visit our video library