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Author Question: Which good most likely has the lowest elasticity of demand? A) Macintosh computers B) Toothpicks ... (Read 90 times)

Zulu123

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on: Jun 29, 2018
Which good most likely has the lowest elasticity of demand?
 
  A) Macintosh computers
  B) Toothpicks
  C) Chemotherapy treatment
  D) Sirloin steaks
  E) VCR players

Question 2

Gene's Car Wash is a natural monopoly. To wash 100 cars a week, if Gene is unregulated, he would charge a price of 10. Gene's average total cost for washing 100 cars is 8, his average variable cost is 6, and his marginal cost is 4.
 
  If Gene is regulated using a marginal cost pricing rule, the price he is allowed to charge to wash 100 cars is A) 10.
  B) 8.
  C) 6.
  D) 4.
  E) 400.


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jamesnevil303

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


Zulu123

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Reply 2 on: Jun 29, 2018
Wow, this really help

ktidd

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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