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

Author Question: An 18 percent increase in the price of a small car results in a 10 percent increase in the quantity ... (Read 51 times)

formula1

  • Hero Member
  • *****
  • Posts: 666
on: Jun 29, 2018
An 18 percent increase in the price of a small car results in a 10 percent increase in the quantity supplied. The price elasticity of supply is equal to
 
  A) 1.80.
  B) 0.55.
  C) 0.75.
  D) 0.40.

Question 2

One of the problems associated with the utilitarianism is that it does not recognize that
 
  A) taxing those with higher incomes results in less work effort.
  B) each individual receives a different marginal benefit from a dollar's worth of income.
  C) equity is achieved when there is no poor and no rich.
  D) similar individuals should be treated the same.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vish98

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


formula1

  • Hero Member
  • *****
  • Posts: 666
Reply #2 on: Jun 29, 2018
Correct answers!


vish98

  • Sr. Member
  • ****
  • Posts: 326
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

During drought years on the Galapagos, small, easily eaten seeds become rare, le During drought years on the Galapagos, small, easily eaten seeds become rare, le
Commensal Bacteria in the Human Small Intestine Commensal Bacteria in the Human Small Intestine
How to solve any percent efficiency problem How to solve any percent efficiency problem
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Results of the serial dilution technique and subsequent culture of bacteria Results of the serial dilution technique and subsequent culture of bacteria
Video: Resting membrane potential - electrical polarity and maintenance requirements

For a complete list of videos, visit our video library