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

Author Question: Butch's Barber Shop knows that it faces an elasticity of demand equal to 3.0 over the relevant range ... (Read 49 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
on: Jun 30, 2018
Butch's Barber Shop knows that it faces an elasticity of demand equal to 3.0 over the relevant range of its demand curve. A 1 increase in its price will do what to the number of haircuts demanded from Butch's Barber Shop?
 a. It will increase by 0.33
  b. It will increase by 3.0
 c. It will decrease by 0.33
  d. It will decrease by 3.0

Question 2

Which of the following is the Fed's most common way to change the money supply?
 a. Moral suasion
 b. The discount rate
 c. The required reserve rate
  d. Open market operations


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

connor417

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jun 30, 2018
:D TYSM

31809pancho

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

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?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

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.

Range of Motion of the Spine, Flexion and Hyperextension Range of Motion of the Spine, Flexion and Hyperextension
Although Neandertal brain sizes fall well within the modern human range, their EQ is lower than mode Although Neandertal brain sizes fall well within the modern human range, their EQ is lower than mode
Chimerical Faces Chimerical Faces
Long-Range Forecasts Long-Range Forecasts
Shop Smart Shop Smart
The original Supply and Demand graph The original Supply and Demand graph
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library