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

Author Question: Demand is inelastic if A) a large change in quantity demanded results in a small change in price. ... (Read 215 times)

wrbasek0

  • Hero Member
  • *****
  • Posts: 560
on: Jun 29, 2018
Demand is inelastic if
 
  A) a large change in quantity demanded results in a small change in price.
  B) the quantity demanded is very responsive to changes in price.
  C) the price elasticity of demand is less than 1.
  D) the price elasticity of demand is greater than 1.

Question 2

On the vertical axis, the production possibilities frontier shows ________; on the horizontal axis, the production possibilities frontier shows ________.
 
  A) the quantity of a good; the number of workers employed to produce the good
  B) the quantity of a good; the price of the good
  C) the quantity of a good; a weighted average of resources used to produce the good
  D) the quantity of one good; the quantity of another good


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

aham8f

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

D


wrbasek0

  • Member
  • Posts: 560
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

matt95

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Barriers to change Barriers to change
Large water tank, possibly a public or ritual bathing area, from Mohenjo-daro, Indus Valley ... Large water tank, possibly a public or ritual bathing area, from Mohenjo-daro, Indus Valley ...
Celiac disease affects the small intestine. Celiac disease affects the small intestine.
DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ... DOT placarding requirements: Table 1 materials must be placarded in any quantity, and Table 2 ...
Results and interpretation of a mixed copolymer Results and interpretation of a mixed copolymer
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Brain Anatomy Animation (Part 1 of 2)

For a complete list of videos, visit our video library