« previous next »

Author Question: Higher price elasticity of demand means that a consumer's demand is: A) more responsive to price ... (Read 140 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Higher price elasticity of demand means that a consumer's demand is:
 
  A) more responsive to price changes.
  B) less responsive to price changes.
  C) less responsive to income changes.
  D) more responsive to income changes.

Question 2

Which of the following correctly identifies the difference between the demand for labor and the demand for final goods?
 
  A) The demand for labor is fixed over time, whereas the demand for final goods changes according to changes in tastes and preferences.
  B) The demand for final goods is fixed over time, whereas the demand for labor changes according to the changes in tastes and preferences.
  C) The demand for final goods is derived from the demand for labor, whereas the demand for labor is independent of the demand for final goods.
  D) The demand for labor is derived from the demand for final goods, whereas the demand for final goods is independent of the demand for labor.


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi Muskox populations remain in the Arctic all year, though they migrate to higher elevations in the wi
Apidium may be ancestral to all later higher primates and is reconstructed as looking like a small-b Apidium may be ancestral to all later higher primates and is reconstructed as looking like a small-b
An Oil-dependent World— Supply and Demand Driven An Oil-dependent World— Supply and Demand Driven
IQ and Genetics The closer the genetic relationship, the higher the correlation in IQ. Based on: Br IQ and Genetics The closer the genetic relationship, the higher the correlation in IQ. Based on: Br
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
This living protozoan is the common Paramecium multimicronucleatum that moves by means of its numero This living protozoan is the common Paramecium multimicronucleatum that moves by means of its numero
Video: Digestive chemicals - types & enzymes

For a complete list of videos, visit our video library