This topic contains a solution. Click here to go to the answer

Author Question: The fewer the number of substitutes for a good, the more elastic the demand for that good. Is the ... (Read 107 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
The fewer the number of substitutes for a good, the more elastic the demand for that good. Is the previous statement true or false?
 
  What will be an ideal response?

Question 2

Welding has changed dramatically over the last decade with more welding jobs dependent on the use of computers.
 
  This change increased the demand for welders with computer skills and decreased the demand for welders who lack these skills and is an example of when technology is a ________ to a high-skilled job and a ________ to a low-skilled job. A) complement; substitute
  B) complement; complement
  C) substitute; complement
  D) substitute; substitute



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

sierramartinez

  • Sr. Member
  • ****
  • Posts: 313
Answer to Question 1

The statement is false. The greater the number of substitutes, the more elastic the demand for that product. Conversely, the fewer the number of substitutes, the less elastic (the more inelastic) the demand for that product.

Answer to Question 2

A




bcretired

  • Member
  • Posts: 525
Reply 2 on: Jun 29, 2018
Wow, this really help


coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Giardia is one of the most common intestinal parasites worldwide, and infects up to 20% of the world population, mostly in poorer countries with inadequate sanitation. Infections are most common in children, though chronic Giardia is more common in adults.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

For a complete list of videos, visit our video library