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 216 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
Great answer, keep it coming :)

amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The people with the highest levels of LDL are Mexican American males and non-Hispanic black females.

Small Copper Small Copper
Family interactions change in response to the developing child, and parenting characteristics, such ... Family interactions change in response to the developing child, and parenting characteristics, such ...
Population Growth and Change Population Growth and Change
The ability of a community to cope, adapt to, and mitigate the accelerating impact of climate change The ability of a community to cope, adapt to, and mitigate the accelerating impact of climate change
The results from West and Crook's study of memory for telephone numbers The results from West and Crook's study of memory for telephone numbers
Results of a genome-wide association study (GWAS) to detect SNPs Results of a genome-wide association study (GWAS) to detect SNPs
Video: Wound Cultures

For a complete list of videos, visit our video library