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

Author Question: Suppose the price elasticity of demand for oil is 0.1. In order to lower the price of oil by 20 ... (Read 58 times)

madam-professor

  • Hero Member
  • *****
  • Posts: 584
on: Jun 29, 2018
Suppose the price elasticity of demand for oil is 0.1. In order to lower the price of oil by 20 percent, the quantity of oil supplied must be increased by
 
  A) 200 percent.
  B) 20 percent.
  C) 2 percent.
  D) 0.2 percent.

Question 2

If net taxes exceed government expenditures, the government sector has a budget ________ and government saving is ________.
 
  A) surplus; positive
  B) surplus; negative
  C) deficit; positive
  D) deficit; negative


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nekcihc358

  • Sr. Member
  • ****
  • Posts: 327
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

A


madam-professor

  • Member
  • Posts: 584
Reply 2 on: Jun 29, 2018
Gracias!

komodo7

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

A speculum used to hold the vagina open in order to visualize the cervix. A speculum used to hold the vagina open in order to visualize the cervix.
GI series. (a) Upper GI series begins with a barium swallow, barium shake, or barium meal. (b) Lower GI series. (a) Upper GI series begins with a barium swallow, barium shake, or barium meal. (b) Lower
Blood Collection Tubes: Order of Draw Blood Collection Tubes: Order of Draw
If a cylinder(s) is lower than most of the others, use an oil can and use two squirts of engine oil ... If a cylinder(s) is lower than most of the others, use an oil can and use two squirts of engine oil ...
The lower intake manifold attaches to the cylinder heads. The lower intake manifold attaches to the cylinder heads.
Afterload is the pressure that the ventricles must overcome in order to open the aortic and pulmonic Afterload is the pressure that the ventricles must overcome in order to open the aortic and pulmonic
Video: Major Elements in Biological Molecules: Carbohydrates

For a complete list of videos, visit our video library