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 56 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
Excellent

bulacsom

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

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.

Sandia ear-plug-sized samplers hang poised to sample gases relevant to climate and weather. Sandia ear-plug-sized samplers hang poised to sample gases relevant to climate and weather.
Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae Demonstration of equal segregation within one meiocyte in the yeast S. cerevisiae
Range of Motion of the Cervical Spine, Lateral Bending Range of Motion of the Cervical Spine, Lateral Bending
Range of Motion of the Shoulder Joint, Forward Flexion, Hyperextension Range of Motion of the Shoulder Joint, Forward Flexion, Hyperextension
The demand for cheap coal to generate electrical power is rising The demand for cheap coal to generate electrical power is rising
Palpating for skin elasticity Palpating for skin elasticity
Video: Virtual Tour of the Eye Animation

For a complete list of videos, visit our video library