This topic contains a solution. Click here to go to the answer

Author Question: Demand is inelastic if A) a large change in quantity demanded results in a small change in price. ... (Read 544 times)

wrbasek0

  • Hero Member
  • *****
  • Posts: 560
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
Answer to Question 1

C

Answer to Question 2

D




wrbasek0

  • Member
  • Posts: 560
Reply 2 on: Jun 29, 2018
Gracias!


Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

For a complete list of videos, visit our video library