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

Author Question: The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is ... (Read 86 times)

MirandaLo

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
The quantity of new cars increases by 10 percent. If the price elasticity of demand for new cars is 1.25, the price of new cars will fall by
 
  A) 2.5 percent.
  B) 8 percent.
  C) 10 percent.
  D) 12.5 percent.

Question 2

The existence of economies of scale can create ________.
 
  A) a natural monopoly
  B) a government monopoly
  C) a legal monopoly
  D) a market in which many firms make identical products


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kswal303

  • Sr. Member
  • ****
  • Posts: 316
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


MirandaLo

  • Member
  • Posts: 538
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

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.

Did you know?

The term pharmacology is derived from the Greek words pharmakon("claim, medicine, poison, or remedy") and logos ("study").

Spirituality increases with age, but there are different patterns for the two genders. Both genders ... Spirituality increases with age, but there are different patterns for the two genders. Both genders ...
The population of Asia increases rapidly, the demand for food and water is also growing The population of Asia increases rapidly, the demand for food and water is also growing
China has relied on cheap coal to meet its demand for energy China has relied on cheap coal to meet its demand for energy
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Identify the variable representing each described quantity in the equation Identify the variable representing each described quantity in the equation
Twenty percent of the automobiles inspected at a state inspection station required repairs to ... Twenty percent of the automobiles inspected at a state inspection station required repairs to ...
Video: hGH, Thyroid hormones & Aldosterone

For a complete list of videos, visit our video library