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

Author Question: Microsoft raises the price of its Office software by 10 percent. As a result, the quantity of ... (Read 60 times)

Alygatorr01285

  • Hero Member
  • *****
  • Posts: 564
on: Jun 29, 2018
Microsoft raises the price of its Office software by 10 percent. As a result, the quantity of personal computers demanded at the current price decreases by 5 percent.
 
  What is the cross elasticity of demand for personal computers with respect to the price of Microsoft Office software? A) -2.0
  B) -0.5
  C) 0.5
  D) 2.0

Question 2

The more ________, the larger is the amount of the tax on the good that the ________ pays.
 
  A) elastic the demand for a good; buyers
  B) inelastic the demand for a good; buyers
  C) inelastic the supply of a good; buyers
  D) elastic the supply of a good; sellers


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

B


Alygatorr01285

  • Member
  • Posts: 564
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

irishcancer18

  • Member
  • Posts: 310
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

The medical assistant as receptionist in a medical office. The medical assistant as receptionist in a medical office.
CPT Modifiers Used for Medical Office Services Cont. CPT Modifiers Used for Medical Office Services Cont.
Example of equipment used for a urine drug screen that a medical office may require before ... Example of equipment used for a urine drug screen that a medical office may require before ...
With a fortune of $66 billion, Bill Gates, a cofounder of Microsoft Corporation, is the second ... With a fortune of $66 billion, Bill Gates, a cofounder of Microsoft Corporation, is the second ...
Plume modeling using ALOHA software Plume modeling using ALOHA software
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Video: Epidural Hematoma

For a complete list of videos, visit our video library