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

Author Question: If the elasticity of supply of TV sets is equal to 3, then a 10 percent increase in the price of a ... (Read 86 times)

audragclark

  • Hero Member
  • *****
  • Posts: 579
on: Jun 29, 2018
If the elasticity of supply of TV sets is equal to 3, then a 10 percent increase in the price of a TV will
 
  A) increase the quantity supplied by 3.33 percent.
  B) increase the quantity supplied by 30.0 percent.
  C) increase the quantity supplied by 0.33 percent.
  D) decrease the quantity supplied by 30.0 percent.

Question 2

Which of the following statements is TRUE about contestable markets?
 
  A) There are significant barriers to entry.
  B) Firms earn large economic profits.
  C) Each firm faces a perfectly elastic demand.
  D) There are few firms in the industry.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

scikid

  • Sr. Member
  • ****
  • Posts: 300
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


audragclark

  • Member
  • Posts: 579
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

alvinum

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

When blood is exposed to air, it clots. Heparin allows the blood to come in direct contact with air without clotting.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r Defibrillator. Defibrillators are devices that supply a voltage charge to the heart in the hope of r
blood supply blood supply
Changes in Synaptic Density From Birth to Age 2 Synaptic connections increase throughout the first Changes in Synaptic Density From Birth to Age 2 Synaptic connections increase throughout the first
How to convert fractions to decimals to percent How to convert fractions to decimals to percent
Who Oversees the Food Supply? Who Oversees the Food Supply?
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Video: Mutations and translation

For a complete list of videos, visit our video library