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

Author Question: A doubling of the price of gasoline in the 1970s did not reduce consumption one iota. The person ... (Read 75 times)

Evvie72

  • Hero Member
  • *****
  • Posts: 519
on: Jun 29, 2018
A doubling of the price of gasoline in the 1970s did not reduce consumption one iota. The person making the above claim evidently thinks the demand for gasoline is
 
  A) completely elastic.
  B) completely inelastic.
  C) greater than the supply.
  D) less than the supply.
  E) unit elastic.

Question 2

If the price of chicken falls, then in the market for beef
 
  A) the demand curve for beef shifts rightward.
  B) the demand curve for beef shifts leftward.
  C) there is a movement downward along the demand curve for beef.
  D) there is a movement upward along the demand curve for beef.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


Evvie72

  • Member
  • Posts: 519
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

juliaf

  • Member
  • Posts: 344
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Assessing a person's spiritual and religious beliefs is an imiportant aspect of nursing care Assessing a person's spiritual and religious beliefs is an imiportant aspect of nursing care
Proper placement and monitoring of an automatic blood pressure cuff will reduce the risk of injury o Proper placement and monitoring of an automatic blood pressure cuff will reduce the risk of injury o
Comparison of energy consumption in developing and industrialized nations Comparison of energy consumption in developing and industrialized nations
France has produced most of its energy from nuclear power since the oil crisis of the 1970s France has produced most of its energy from nuclear power since the oil crisis of the 1970s
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Video: Hormonal regulation of pregnancy - weeks 2 through 38

For a complete list of videos, visit our video library