« previous next »

Author Question: The opportunity cost of a hot dog in terms of hamburgers is the A) ratio of the slope of the ... (Read 22 times)

tuffie

  • Hero Member
  • *****
  • Posts: 534
on: Jun 29, 2018
The opportunity cost of a hot dog in terms of hamburgers is the
 
  A) ratio of the slope of the demand curve for hot dogs to the slope of the demand curve for hamburgers.
  B) ratio of the slope of the supply curve for hot dogs to the slope of the supply curve for hamburgers.
  C) money price of a hot dog minus the money price of a hamburger.
  D) ratio of the money price of a hot dog to the money price of a hamburger.

Question 2

The price elasticity of demand is calculated as the absolute value of the
 
  A) percentage change in quantity demanded divided by the percentage change in price.
  B) percentage change in price divided by the percentage change in quantity demanded.
  C) change in quantity demanded divided by the change in price.
  D) change in price divided by the change in quantity demanded.


kilada

  • Sr. Member
  • ****
  • Posts: 311
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Phobos transits the Sun, as seen by Mars Rover Opportunity on March 10, 2004 Phobos transits the Sun, as seen by Mars Rover Opportunity on March 10, 2004
Inflated Phrases Compared with Concise Terms Cont Inflated Phrases Compared with Concise Terms Cont
Typical Startup Cost Categories Typical Startup Cost Categories
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Cost Accounting 14 Cost Accounting 14
Video: Ventilation - phases and driving forces

For a complete list of videos, visit our video library