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

Author Question: Which of the following is true of a used-car market? A) Sellers have more information than the ... (Read 33 times)

Mimi

  • Hero Member
  • *****
  • Posts: 542
on: Jun 29, 2018
Which of the following is true of a used-car market?
 
  A) Sellers have more information than the buyers.
  B) Gains from trade do not exist in this market.
  C) The cars sold are identical in quality.
  D) There is no consumer surplus in this market.

Question 2

If Dr. Giltscalpel's gross revenue doubled when he doubled his surgical fees, the demand for his services within the relevant price range would be
 
  A) indeterminate.
  B) perfectly elastic.
  C) perfectly inelastic.
  D) unit elastic.
  E) none of the above.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

matt

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


Mimi

  • Member
  • Posts: 542
Reply 2 on: Jun 29, 2018
Excellent

pangili4

  • Member
  • Posts: 346
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

DNA is biological information DNA is biological information
Terry Winters, Color and Information. Terry Winters, Color and Information.
Which is TRUE about the alternation of generations cycle that is diagramed above? Which is TRUE about the alternation of generations cycle that is diagramed above?
Comparing Traditional and Industrialized (and Information) Societies Comparing Traditional and Industrialized (and Information) Societies
Reconstruction Drawing of Trajan's Market Reconstruction Drawing of Trajan's Market
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library