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Author Question: Netflix is the largest online DVD rental service offering flat rate online streaming to customers in ... (Read 131 times)

EAugust

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on: Jun 29, 2018
Netflix is the largest online DVD rental service offering flat rate online streaming to customers in the United States. Currently, there are approximately 8 million subscribers.
 
  Suppose Netflix decreases its flat rate rental by 10 percent and an additional 1 million people subscribe. This information means that Netflix's demand is A) elastic.
  B) inelastic.
  C) unit elastic.
  D) perfectly elastic.

Question 2

If the government regulates the market in the above figure in a way to achieve efficiency, then ________ tons of paper will be produced and consumed.
 
  A) 0
  B) 100
  C) 200
  D) None of the above answers is correct.


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Dominic

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


EAugust

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ebonylittles

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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