Author Question: The table above gives the demand schedule for peas. Which of the following statements CORRECTLY ... (Read 131 times)

serike

  • Hero Member
  • *****
  • Posts: 542
The table above gives the demand schedule for peas. Which of the following statements CORRECTLY describes the price elasticity of demand?
 
  A) The price elasticity of demand is larger at point A than at point B.
  B) The price elasticity of demand is larger at point D than at point A.
  C) The price elasticity of demand is constant because the slope is constant.
  D) The price elasticity of demand increases moving from point A to point B to point C to point D to point E.

Question 2

One economist says that raising taxes on gas would be in the social interest. What does this economist mean?
 
  A) Higher taxes on gas would benefit society as a whole.
  B) Raising taxes on gas would benefit most of the people.
  C) Higher taxes on gas would benefit everyone.
  D) Both answers A and C are correct.



Jane

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

A

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

For a complete list of videos, visit our video library