« previous next »

Author Question: Last year the price of corn was 3 per bushel and the quantity of corn demanded was 8 million ... (Read 136 times)

fbq8i

  • Hero Member
  • *****
  • Posts: 527
on: Jun 29, 2018
Last year the price of corn was 3 per bushel and the quantity of corn demanded was 8 million bushels. This year the price of corn is 4 per bushel and the quantity of corn demanded is 7 million bushels.
 
  Assuming that the demand curve has not shifted, what is the price elasticity of demand for corn? (Use the midpoint formula.) A) 1
  B) 0.47
  C) 2.14
  D) 0.29

Question 2

If growth in the United States speeds up so that investors believe they can make a bigger profit from U.S. assets, the ________ U.S. dollars will ________.
 
  A) demand for; increase
  B) demand for; decrease
  C) supply of; increase
  D) supply of; decrease


Sarahjh

  • Sr. Member
  • ****
  • Posts: 370
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Elderly adults are at greatest risk of stroke and myocardial infarction and have the most to gain from prophylaxis. Patients ages 60 to 80 years with blood pressures above 160/90 mm Hg should benefit from antihypertensive treatment.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Reindeer antlers grow again each year under a layer of fur called velvet. This reindeer is losing th Reindeer antlers grow again each year under a layer of fur called velvet. This reindeer is losing th
Early in the twentieth century, when malnutrition was common, companies such as this one advertised Early in the twentieth century, when malnutrition was common, companies such as this one advertised
How do you set yourself apart in a country so rich that of its 4.6 million people, 79,000 are ... How do you set yourself apart in a country so rich that of its 4.6 million people, 79,000 are ...
Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production
Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ... Charlie Stone wants to retire in 30 years, and he wants to have an annuity of $1000 a year for ...
Video: Interview with an Anorexic Woman (Part 2 of 2)

For a complete list of videos, visit our video library